Stitch Fix, Inc. to Post Q3 2023 Earnings of ($0.33) Per Share, Wedbush Forecasts (NASDAQ:SFIX)

Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) – Stock analysts at Wedbush reduced their Q3 2023 earnings per share (EPS) estimates for shares of Stitch Fix in a report issued on Wednesday, March 8th. Wedbush analyst T. Nikic now forecasts that the company will post earnings per share of ($0.33) for the quarter, down from their prior forecast of ($0.28). The consensus estimate for Stitch Fix’s current full-year earnings is ($1.36) per share. Wedbush also issued estimates for Stitch Fix’s Q4 2023 earnings at ($0.27) EPS, FY2023 earnings at ($1.38) EPS and FY2024 earnings at ($1.19) EPS.

Stitch Fix (NASDAQ:SFIX – Get Rating) last posted its quarterly earnings data on Tuesday, March 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Stitch Fix had a negative net margin of 16.06% and a negative return on equity of 70.72%. The company had revenue of $412.12 million for the quarter, compared to the consensus estimate of $412.94 million. During the same period last year, the business earned ($0.02) EPS. The firm’s quarterly revenue was down 20.2% on a year-over-year basis.

SFIX has been the subject of a number of other research reports. Wells Fargo & Company raised Stitch Fix from an “underweight” rating to an “equal weight” rating and set a $4.00 price objective for the company in a research report on Friday, January 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $5.00 target price on shares of Stitch Fix in a report on Wednesday. Barclays reduced their target price on Stitch Fix from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 7th. UBS Group reduced their target price on Stitch Fix from $4.30 to $4.20 and set a “neutral” rating for the company in a report on Wednesday, December 7th. Finally, JPMorgan Chase & Co. lowered Stitch Fix from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 20th. Two research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.34.

Stitch Fix Stock Down 4.8 %

SFIX stock opened at $4.75 on Friday. Stitch Fix has a twelve month low of $2.63 and a twelve month high of $11.50. The firm has a market cap of $526.35 million, a PE ratio of -1.77 and a beta of 2.22. The business has a 50 day moving average of $4.54 and a 200 day moving average of $4.25.

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Stitch Fix by 6.5% in the first quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company’s stock worth $80,203,000 after purchasing an additional 483,213 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Stitch Fix by 2.4% in the third quarter. BlackRock Inc. now owns 7,211,092 shares of the company’s stock worth $28,484,000 after purchasing an additional 171,311 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Stitch Fix by 50.3% in the fourth quarter. Millennium Management LLC now owns 3,088,465 shares of the company’s stock worth $9,605,000 after purchasing an additional 1,033,703 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Stitch Fix by 56.6% in the second quarter. Federated Hermes Inc. now owns 2,858,763 shares of the company’s stock worth $14,122,000 after purchasing an additional 1,033,699 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Stitch Fix by 59.4% in the second quarter. Renaissance Technologies LLC now owns 2,697,576 shares of the company’s stock worth $13,326,000 after purchasing an additional 1,005,176 shares during the last quarter. 68.38% of the stock is owned by institutional investors.

Stitch Fix Company Profile

(Get Rating)

Stitch Fix, Inc engages in the provision of personalized shipments of apparel, shoes, and accessories. The firm also delivers personalization to clients through the pairing of data science and human judgment. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.