JPMorgan Chase & Co. Trims Stitch Fix (NASDAQ:SFIX) Target Price to $8.00

Stitch Fix (NASDAQ:SFIXGet Rating) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $10.00 to $8.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.83% from the company’s current price.

A number of other brokerages have also recently issued reports on SFIX. Morgan Stanley decreased their target price on Stitch Fix from $20.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Bernstein Bank started coverage on Stitch Fix in a research note on Tuesday, March 15th. They set a “market perform” rating and a $11.00 price objective for the company. Canaccord Genuity Group decreased their price target on Stitch Fix from $38.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Wedbush dropped their price target on Stitch Fix from $21.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 9th. Finally, Telsey Advisory Group downgraded Stitch Fix from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $25.00 to $14.00 in a research note on Wednesday, March 9th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $16.81.

Shares of NASDAQ:SFIX opened at $7.78 on Friday. The stock has a market cap of $846.46 million, a P/E ratio of -26.83 and a beta of 1.74. Stitch Fix has a 1-year low of $6.71 and a 1-year high of $64.52. The firm has a fifty day moving average price of $9.07 and a 200 day moving average price of $13.70.

Stitch Fix (NASDAQ:SFIXGet Rating) last released its quarterly earnings results on Thursday, June 9th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.15). The firm had revenue of $492.90 million for the quarter, compared to analyst estimates of $493.71 million. Stitch Fix had a negative return on equity of 6.58% and a negative net margin of 1.37%. Stitch Fix’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) earnings per share. Analysts anticipate that Stitch Fix will post -1.38 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of SFIX. Neo Ivy Capital Management increased its position in shares of Stitch Fix by 162.8% during the fourth quarter. Neo Ivy Capital Management now owns 1,616 shares of the company’s stock worth $31,000 after acquiring an additional 1,001 shares during the period. Dark Forest Capital Management LP boosted its holdings in Stitch Fix by 40.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 2,235 shares of the company’s stock valued at $89,000 after purchasing an additional 649 shares during the last quarter. Man Group plc acquired a new position in Stitch Fix in the 3rd quarter valued at about $227,000. Claybrook Capital LLC purchased a new stake in shares of Stitch Fix in the 3rd quarter valued at approximately $236,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Stitch Fix in the 3rd quarter valued at approximately $242,000. 70.50% of the stock is owned by institutional investors.

About Stitch Fix (Get Rating)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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