Farfetch Ltd (NYSE:FTCH – Get Rating)’s stock price hit a new 52-week low during trading on Thursday after Oppenheimer lowered their price target on the stock from $14.00 to $7.00. The stock traded as low as $4.31 and last traded at $4.39, with a volume of 105831 shares trading hands. The stock had previously closed at $4.66.
Several other equities research analysts also recently issued reports on FTCH. Cowen dropped their price objective on Farfetch from $11.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, December 5th. Wells Fargo & Company dropped their price objective on Farfetch from $25.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, December 2nd. JPMorgan Chase & Co. dropped their price objective on Farfetch from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 18th. BTIG Research dropped their price objective on Farfetch from $13.00 to $10.00 in a report on Friday, December 2nd. Finally, Morgan Stanley decreased their target price on Farfetch from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Farfetch has a consensus rating of “Moderate Buy” and a consensus price target of $13.31.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTCH. CIBC Private Wealth Group LLC raised its stake in Farfetch by 9.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 557,456 shares of the company’s stock valued at $3,991,000 after acquiring an additional 46,266 shares in the last quarter. Capital International Ltd. CA raised its stake in Farfetch by 15.6% during the 1st quarter. Capital International Ltd. CA now owns 54,081 shares of the company’s stock valued at $818,000 after acquiring an additional 7,295 shares in the last quarter. Boston Financial Mangement LLC raised its stake in Farfetch by 495.2% during the 1st quarter. Boston Financial Mangement LLC now owns 878,958 shares of the company’s stock valued at $13,290,000 after acquiring an additional 731,289 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Farfetch by 66.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 39,655 shares of the company’s stock valued at $600,000 after acquiring an additional 15,776 shares in the last quarter. Finally, Dragoneer Investment Group LLC bought a new stake in Farfetch during the 1st quarter valued at $160,461,000. Institutional investors and hedge funds own 85.11% of the company’s stock.
Farfetch Stock Down 6.0 %
The firm has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $8.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.09 and a current ratio of 1.44. The stock has a market cap of $1.67 billion, a P/E ratio of -2.57 and a beta of 2.76.
Farfetch (NYSE:FTCH – Get Rating) last posted its quarterly earnings data on Thursday, November 17th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.16). Farfetch had a return on equity of 58.40% and a net margin of 26.67%. The firm had revenue of $593.36 million during the quarter, compared to the consensus estimate of $610.27 million. Equities research analysts predict that Farfetch Ltd will post -1.55 earnings per share for the current year.
About Farfetch
Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.