Farfetch (NYSE:FTCH) Price Target Lowered to $25.00 at Wells Fargo & Company

Farfetch (NYSE:FTCH – Get Rating) had its target price reduced by research analysts at Wells Fargo & Company from $35.00 to $25.00 in a research note issued to investors on Friday, The Fly reports. Wells Fargo & Company‘s target price points to a potential upside of 225.52% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group initiated coverage on Farfetch in a report on Thursday, March 17th. They issued a “buy” rating and a $25.00 price target for the company. BTIG Research cut their target price on shares of Farfetch from $26.00 to $16.00 in a research note on Friday. Wedbush decreased their price target on shares of Farfetch from $30.00 to $20.00 in a research note on Friday, February 25th. Credit Suisse Group lowered their price target on shares of Farfetch from $47.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Farfetch from $60.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.34.

Shares of FTCH opened at $7.68 on Friday. Farfetch has a 12-month low of $6.53 and a 12-month high of $53.77. The stock has a market cap of $2.92 billion, a P/E ratio of -7.18 and a beta of 3.13. The company has a current ratio of 2.33, a quick ratio of 2.05 and a debt-to-equity ratio of 1.91. The company has a 50-day moving average of $12.07 and a two-hundred day moving average of $21.52.

Farfetch (NYSE:FTCH – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.11. Farfetch had a net margin of 64.79% and a negative return on equity of 331.09%. The business had revenue of $514.80 million during the quarter, compared to analysts’ expectations of $560.27 million. During the same period last year, the company posted ($0.28) EPS. The company’s revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Farfetch will post -1.23 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new position in Farfetch in the fourth quarter valued at approximately $31,000. Dark Forest Capital Management LP purchased a new stake in shares of Farfetch in the third quarter worth about $42,000. Sierra Capital LLC acquired a new stake in shares of Farfetch in the first quarter valued at about $47,000. Rockefeller Capital Management L.P. grew its stake in shares of Farfetch by 51.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,515 shares of the company’s stock valued at $56,000 after buying an additional 515 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in shares of Farfetch during the 1st quarter valued at about $75,000. 81.36% of the stock is owned by hedge funds and other institutional investors.

About Farfetch (Get Rating)

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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