Farfetch (NYSE:FTCH) PT Lowered to $30.00 at Morgan Stanley

Farfetch (NYSE:FTCHGet Rating) had its target price reduced by Morgan Stanley from $56.00 to $30.00 in a research report issued on Friday, The Fly reports. Morgan Stanley’s price target suggests a potential upside of 290.63% from the company’s current price.

Several other analysts have also weighed in on the company. Credit Suisse Group reduced their price objective on Farfetch from $47.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday. BTIG Research lowered their price objective on shares of Farfetch from $26.00 to $16.00 in a research report on Friday. UBS Group cut their target price on shares of Farfetch from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. UBS analyst Kunal Madhukar lowered the price target on Farfetch (NYSE: FTCH) to $14.00 (from $19.00) while maintaining a Buy rating. Oppenheimer lowered their price target on shares of Farfetch from $32.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, April 1st. Finally, Zacks Investment Research raised Farfetch from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.97.

Shares of NYSE:FTCH opened at $7.68 on Friday. The company has a market capitalization of $2.92 billion, a P/E ratio of -7.18 and a beta of 3.13. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.33 and a quick ratio of 2.05. The business’s 50 day simple moving average is $12.07 and its 200 day simple moving average is $21.52. Farfetch has a 1 year low of $6.53 and a 1 year high of $53.77.

Farfetch (NYSE:FTCHGet Rating) last released its earnings results on Thursday, May 26th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.11. The company had revenue of $514.80 million for the quarter, compared to analyst estimates of $560.27 million. Farfetch had a negative return on equity of 331.09% and a net margin of 64.79%. Farfetch’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS. On average, sell-side analysts anticipate that Farfetch will post -1.23 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of Farfetch by 102.4% in the 4th quarter. Baillie Gifford & Co. now owns 30,400,596 shares of the company’s stock worth $1,016,292,000 after acquiring an additional 15,383,872 shares in the last quarter. Viking Global Investors LP bought a new position in shares of Farfetch during the 3rd quarter worth approximately $432,446,000. Dragoneer Investment Group LLC bought a new position in shares of Farfetch in the first quarter valued at approximately $160,461,000. Eminence Capital LP purchased a new stake in shares of Farfetch during the first quarter valued at approximately $73,646,000. Finally, Lone Pine Capital LLC lifted its holdings in Farfetch by 21.6% during the third quarter. Lone Pine Capital LLC now owns 22,945,132 shares of the company’s stock worth $859,984,000 after acquiring an additional 4,078,246 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

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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