Stitch Fix (NASDAQ:SFIX) Price Target Cut to $8.00

Stitch Fix (NASDAQ:SFIXGet Rating) had its price objective decreased by research analysts at BMO Capital Markets from $11.00 to $8.00 in a research report issued to clients and investors on Friday, The Fly reports. BMO Capital Markets’ price target indicates a potential upside of 2.83% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SFIX. Canaccord Genuity Group cut their target price on shares of Stitch Fix from $38.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Wedbush decreased their target price on shares of Stitch Fix from $9.00 to $7.00 in a research note on Friday. MKM Partners dropped their target price on shares of Stitch Fix from $19.00 to $9.00 in a report on Monday, March 7th. Truist Financial lowered shares of Stitch Fix from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $12.00 in a research report on Wednesday, March 9th. Finally, Telsey Advisory Group lowered shares of Stitch Fix from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $14.00 in a research report on Wednesday, March 9th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.24.

Stitch Fix stock opened at $7.78 on Friday. Stitch Fix has a 1 year low of $6.71 and a 1 year high of $64.52. The company’s 50 day simple moving average is $9.07 and its 200-day simple moving average 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 (NASDAQ:SFIXGet Rating) last issued its 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). Stitch Fix had a negative net margin of 1.37% and a negative return on equity of 6.58%. The company had revenue of $492.90 million during the quarter, compared to analyst estimates of $493.71 million. During the same quarter in the previous year, the company posted ($0.18) EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Stitch Fix will post -1.38 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of SFIX. First Trust Advisors LP raised its holdings in Stitch Fix by 25.4% in the 1st quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock worth $2,944,000 after purchasing an additional 21,153 shares during the period. Geode Capital Management LLC grew its position in Stitch Fix by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,104,094 shares of the company’s stock worth $44,108,000 after acquiring an additional 21,328 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Stitch Fix in the third quarter worth about $607,000. Renaissance Technologies LLC bought a new stake in shares of Stitch Fix during the third quarter valued at approximately $13,952,000. Finally, Franklin Resources Inc. raised its stake in Stitch Fix by 20.0% in the third quarter. Franklin Resources Inc. now owns 6,143 shares of the company’s stock worth $246,000 after buying an additional 1,024 shares in the last quarter. Institutional investors own 70.50% of the company’s stock.

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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