Credit Suisse Group Lowers Farfetch (NYSE:FTCH) Price Target to $19.00

Farfetch (NYSE:FTCHGet Rating) had its price objective cut by Credit Suisse Group from $20.00 to $19.00 in a report issued on Wednesday, MarketBeat reports. They currently have an outperform rating on the stock.

FTCH has been the subject of several other research reports. Cowen upped their price target on Farfetch from $9.00 to $11.00 and gave the stock a market perform rating in a research note on Tuesday, August 30th. Cowen increased their price target on Farfetch from $9.00 to $11.00 and gave the company a market perform rating in a report on Tuesday, August 30th. Morgan Stanley reduced their price objective on shares of Farfetch from $32.00 to $26.00 and set an overweight rating for the company in a research note on Tuesday, October 25th. Citigroup initiated coverage on shares of Farfetch in a research note on Monday, September 26th. They issued a sell rating and a $6.00 target price on the stock. Finally, KeyCorp boosted their target price on shares of Farfetch from $11.00 to $13.00 and gave the stock an overweight rating in a research report on Friday, August 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Farfetch has an average rating of Moderate Buy and an average target price of $17.59.

Farfetch Price Performance

Shares of FTCH opened at $8.11 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.57. The firm has a market cap of $3.09 billion, a PE ratio of -4.48 and a beta of 2.80. Farfetch has a twelve month low of $6.52 and a twelve month high of $43.54. The firm’s 50 day moving average price is $8.61 and its 200 day moving average price is $8.60.

Farfetch (NYSE:FTCHGet Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). The business had revenue of $579.35 million during the quarter, compared to analyst estimates of $566.53 million. Farfetch had a net margin of 26.67% and a return on equity of 60.01%. Farfetch’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) EPS. As a group, research analysts expect that Farfetch will post -1.16 EPS for the current fiscal year.

Institutional Trading of Farfetch

A number of institutional investors and hedge funds have recently modified their holdings of FTCH. Stephens Inc. AR lifted its position in Farfetch by 15.2% in the second quarter. Stephens Inc. AR now owns 8,827 shares of the company’s stock worth $63,000 after purchasing an additional 1,167 shares during the period. Captrust Financial Advisors raised its stake in shares of Farfetch by 31.8% in the 1st quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock valued at $75,000 after buying an additional 1,204 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Farfetch by 8.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,352 shares of the company’s stock worth $129,000 after acquiring an additional 1,339 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Farfetch by 61.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 5,107 shares of the company’s stock valued at $36,000 after acquiring an additional 1,951 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Farfetch by 12.3% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 18,300 shares of the company’s stock valued at $136,000 after acquiring an additional 2,000 shares during the period. 85.11% of the stock is currently owned by institutional investors.

About Farfetch

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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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Analyst Recommendations for Farfetch (NYSE:FTCH)

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