Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating)’s stock price gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $21.00 to $9.00. The stock had previously closed at $11.01, but opened at $8.40. Wedbush currently has a neutral rating on the stock. Stitch Fix shares last traded at $9.18, with a volume of 144,546 shares changing hands.
Several other research firms have also commented on SFIX. Wells Fargo & Company lowered their price target on shares of Stitch Fix from $14.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Evercore ISI lowered shares of Stitch Fix from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $68.00 to $24.00 in a research note on Wednesday, December 8th. Stifel Nicolaus lowered their target price on shares of Stitch Fix from $23.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday. Piper Sandler lowered their target price on shares of Stitch Fix from $46.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 8th. Finally, Barclays lowered their target price on shares of Stitch Fix from $22.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Stitch Fix has a consensus rating of “Hold” and a consensus price target of $24.89.
In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) acquired 222,074 shares of the business’s stock in a transaction on Friday, December 10th. The stock was bought at an average price of $19.78 per share, for a total transaction of $4,392,623.72. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 1,069,286 shares of company stock valued at $19,442,269. 27.01% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in shares of Stitch Fix during the 3rd quarter worth approximately $64,000. Neo Ivy Capital Management increased its holdings in shares of Stitch Fix by 162.8% during the 4th quarter. Neo Ivy Capital Management now owns 1,616 shares of the company’s stock worth $31,000 after buying an additional 1,001 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of Stitch Fix by 75.4% during the 3rd quarter. Private Capital Group LLC now owns 1,675 shares of the company’s stock worth $67,000 after buying an additional 720 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Stitch Fix during the 3rd quarter worth approximately $80,000. Finally, Dark Forest Capital Management LP increased its holdings in shares of Stitch Fix by 40.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 2,235 shares of the company’s stock worth $89,000 after buying an additional 649 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.
The stock’s fifty day moving average price is $15.28 and its 200-day moving average price is $26.29. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -42.81 and a beta of 1.86.
Stitch Fix (NASDAQ:SFIX – Get Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.28). The business had revenue of $516.70 million during the quarter, compared to the consensus estimate of $514.50 million. Stitch Fix had a negative net margin of 0.92% and a negative return on equity of 4.49%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) EPS. On average, analysts anticipate that Stitch Fix, Inc. will post -0.92 EPS for the current year.
About Stitch Fix (NASDAQ:SFIX)
Stitch Fix, Inc is an online personal styling service that delivers personalized fixes of apparel and accessories to men, women and kids. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.