Farfetch (NYSE:FTCH) Downgraded by Cowen to Market Perform

Cowen downgraded shares of Farfetch (NYSE:FTCHGet Rating) from an outperform rating to a market perform rating in a research report released on Tuesday morning, The Fly reports.

A number of other research analysts also recently weighed in on the stock. Piper Sandler assumed coverage on shares of Farfetch in a research report on Friday, July 22nd. They set a neutral rating and a $9.00 price objective on the stock. Wedbush lowered their price objective on shares of Farfetch from $16.00 to $8.00 and set a neutral rating on the stock in a research report on Friday, May 27th. UBS Group downgraded shares of Farfetch from a buy rating to a neutral rating and lowered their price objective for the company from $13.00 to $10.00 in a research report on Tuesday, June 28th. Credit Suisse Group decreased their price target on shares of Farfetch from $47.00 to $36.00 and set an outperform rating on the stock in a research report on Wednesday, May 25th. Finally, Societe Generale decreased their price target on shares of Farfetch from $18.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $22.59.

Farfetch Trading Up 2.2 %

Shares of NYSE FTCH opened at $8.41 on Tuesday. The firm’s 50 day moving average price is $8.08 and its 200-day moving average price is $12.62. The company has a market cap of $3.20 billion, a PE ratio of -7.25 and a beta of 3.00. Farfetch has a 52-week low of $6.52 and a 52-week high of $51.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.71 and a current ratio of 2.05.

Farfetch (NYSE:FTCHGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $514.80 million for the quarter, compared to the consensus estimate of $560.27 million. Farfetch had a net margin of 73.70% and a return on equity of 1,826.57%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.28) EPS. On average, equities research analysts expect that Farfetch will post -1.16 EPS for the current fiscal year.

Institutional Trading of Farfetch

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in shares of Farfetch by 0.6% in the first quarter. Baillie Gifford & Co. now owns 30,590,531 shares of the company’s stock worth $462,529,000 after purchasing an additional 189,935 shares in the last quarter. Lone Pine Capital LLC grew its stake in Farfetch by 6.5% during the fourth quarter. Lone Pine Capital LLC now owns 24,439,933 shares of the company’s stock valued at $817,027,000 after acquiring an additional 1,494,801 shares in the last quarter. Invesco Ltd. grew its stake in Farfetch by 5.8% during the fourth quarter. Invesco Ltd. now owns 20,763,328 shares of the company’s stock valued at $694,118,000 after acquiring an additional 1,136,669 shares in the last quarter. Dragoneer Investment Group LLC purchased a new position in Farfetch during the first quarter valued at $160,461,000. Finally, Eminence Capital LP purchased a new position in Farfetch during the first quarter valued at $73,646,000. 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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