Stitch Fix (NASDAQ:SFIX) Price Target Cut to $10.00 by Analysts at Evercore ISI

Stitch Fix (NASDAQ:SFIX – Get Rating) had its price objective dropped by research analysts at Evercore ISI from $13.00 to $10.00 in a research note issued to investors on Friday, The Fly reports. Evercore ISI’s target price would suggest a potential upside of 28.53% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Stitch Fix from $25.00 to $11.00 in a research report on Wednesday, March 9th. Canaccord Genuity Group dropped their target price on Stitch Fix from $38.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Jefferies Financial Group initiated coverage on Stitch Fix in a research report on Friday, March 18th. They set a “hold” rating and a $10.00 target price for the company. Barclays reduced their target price on Stitch Fix from $22.00 to $12.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Finally, BMO Capital Markets lowered their target price on Stitch Fix from $25.00 to $11.00 and set a “market perform” rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.81.

NASDAQ SFIX opened at $7.78 on Friday. The firm’s fifty day moving average price is $9.07 and its 200 day moving average price is $13.70. The company has a market capitalization of $846.46 million, a price-to-earnings ratio of -26.83 and a beta of 1.74. Stitch Fix has a 12 month low of $6.71 and a 12 month high of $64.52.

Stitch Fix (NASDAQ:SFIX – Get Rating) last issued its quarterly earnings results on Thursday, June 9th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.15). The business 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%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. As a group, equities analysts expect that Stitch Fix will post -1.38 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Stitch Fix by 14.4% during the 1st quarter. Bank of America Corp DE now owns 166,079 shares of the company’s stock valued at $1,672,000 after acquiring an additional 20,888 shares during the period. Walleye Capital LLC bought a new stake in shares of Stitch Fix during the 1st quarter worth $740,000. BNP Paribas Arbitrage SA lifted its position in shares of Stitch Fix by 194.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 295,338 shares of the company’s stock worth $2,974,000 after buying an additional 194,896 shares during the last quarter. Working Capital Advisors UK Ltd. lifted its position in shares of Stitch Fix by 8.0% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 11,979,753 shares of the company’s stock worth $120,636,000 after buying an additional 891,379 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of Stitch Fix by 8,719.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 27,164 shares of the company’s stock worth $274,000 after buying an additional 26,856 shares during the last quarter. Hedge funds and other institutional investors own 70.50% of the company’s stock.

Stitch Fix Company Profile (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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