According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “
Other research analysts have also issued research reports about the stock. Credit Suisse Group increased their target price on shares of Farfetch from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Morgan Stanley upped their price target on shares of Farfetch from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 15th. Finally, KeyCorp upped their price target on shares of Farfetch from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Farfetch presently has an average rating of “Buy” and an average target price of $52.43.
Farfetch (NYSE:FTCH) last announced its quarterly earnings results on Thursday, February 25th. The company reported ($6.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($6.15). Farfetch had a negative net margin of 77.29% and a negative return on equity of 81.22%. The company had revenue of $540.11 million during the quarter, compared to analyst estimates of $507.10 million. On average, sell-side analysts expect that Farfetch will post -1.6 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. CWM LLC bought a new position in shares of Farfetch during the fourth quarter valued at $41,000. Lone Pine Capital LLC bought a new position in shares of Farfetch during the fourth quarter valued at $514,600,000. Guggenheim Capital LLC raised its stake in shares of Farfetch by 81.9% during the fourth quarter. Guggenheim Capital LLC now owns 16,900 shares of the company’s stock valued at $1,078,000 after acquiring an additional 7,611 shares during the last quarter. Polianta Ltd bought a new position in shares of Farfetch during the first quarter valued at $1,033,000. Finally, Focused Wealth Management Inc bought a new position in shares of Farfetch during the fourth quarter valued at $376,000. 65.74% of the stock is owned by hedge funds and other institutional investors.
Farfetch Company Profile
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.
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