Farfetch (NYSE:FTCH) Price Target Cut to $20.00

Farfetch (NYSE:FTCHGet Rating) had its price target dropped by stock analysts at Morgan Stanley from $22.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 237.84% from the company’s previous close.

A number of other research analysts have also commented on FTCH. Credit Suisse Group cut their price target on Farfetch from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 16th. Cowen cut their target price on shares of Farfetch from $11.00 to $8.00 in a research note on Monday, December 5th. Oppenheimer decreased their price target on shares of Farfetch from $14.00 to $7.00 in a research report on Thursday, December 15th. Wells Fargo & Company cut their price objective on shares of Farfetch from $25.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, December 2nd. Finally, BTIG Research decreased their target price on Farfetch from $13.00 to $10.00 in a research report on Friday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Farfetch currently has a consensus rating of “Moderate Buy” and an average target price of $13.19.

Farfetch Stock Performance

NYSE:FTCH opened at $5.92 on Wednesday. The firm has a market capitalization of $2.25 billion, a PE ratio of -3.27 and a beta of 2.86. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 0.61. Farfetch has a 1 year low of $3.64 and a 1 year high of $25.20. The firm’s fifty day simple moving average is $5.85 and its 200 day simple moving average is $7.66.

Farfetch (NYSE:FTCHGet Rating) last issued its quarterly earnings results on Thursday, November 17th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.16). Farfetch had a net margin of 26.67% and a return on equity of 58.40%. The business had revenue of $593.36 million during the quarter, compared to analyst estimates of $610.27 million. On average, sell-side analysts anticipate that Farfetch will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR grew its holdings in shares of Farfetch by 15.2% in the 2nd 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 last quarter. Captrust Financial Advisors increased its holdings in shares of Farfetch by 31.8% during the first quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock worth $75,000 after buying an additional 1,204 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Farfetch by 8.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,352 shares of the company’s stock valued at $129,000 after acquiring an additional 1,339 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Farfetch by 61.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 5,107 shares of the company’s stock worth $36,000 after acquiring an additional 1,951 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Farfetch by 12.3% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 18,300 shares of the company’s stock worth $136,000 after acquiring an additional 2,000 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

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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