Farfetch (NYSE:FTCH) Stock Price Up 6.4%

Farfetch Ltd (NYSE:FTCH – Get Rating)’s stock price rose 6.4% during mid-day trading on Friday . The company traded as high as $6.35 and last traded at $6.30. Approximately 223,590 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 16,170,923 shares. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FTCH shares. Wedbush cut their target price on shares of Farfetch from $8.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, December 2nd. BTIG Research decreased their target price on Farfetch from $13.00 to $10.00 in a research note on Friday, December 2nd. Cowen dropped their price target on Farfetch from $11.00 to $8.00 in a research report on Monday, December 5th. Citigroup assumed coverage on Farfetch in a research report on Monday, September 26th. They issued a “sell” rating and a $6.00 price objective for the company. Finally, Cowen dropped their target price on shares of Farfetch from $11.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.19.

Farfetch Price Performance

The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -3.48 and a beta of 2.86. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average is $5.77 and its 200-day moving average is $7.65.

Farfetch (NYSE:FTCH – Get Rating) last issued its earnings results on Thursday, November 17th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.16). The company had revenue of $593.36 million during the quarter, compared to analyst estimates of $610.27 million. Farfetch had a return on equity of 58.40% and a net margin of 26.67%. Equities research analysts expect that Farfetch Ltd will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Farfetch

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new position in Farfetch during the 2nd quarter worth about $32,000. Asset Management One Co. Ltd. lifted its position in shares of Farfetch by 61.8% during the second quarter. Asset Management One Co. Ltd. now owns 5,107 shares of the company’s stock worth $36,000 after purchasing an additional 1,951 shares in the last quarter. Signaturefd LLC grew its stake in shares of Farfetch by 86.6% during the third quarter. Signaturefd LLC now owns 5,825 shares of the company’s stock valued at $43,000 after purchasing an additional 2,704 shares during the last quarter. Clearstead Advisors LLC increased its holdings in shares of Farfetch by 24,900.0% in the third quarter. Clearstead Advisors LLC now owns 7,500 shares of the company’s stock valued at $56,000 after purchasing an additional 7,470 shares in the last quarter. Finally, Stephens Inc. AR raised its position in 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. 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.