Farfetch (NYSE:FTCH) Reaches New 1-Year Low at $2.15

Farfetch Ltd (NYSE:FTCH)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.15 and last traded at $2.17, with a volume of 1203450 shares changing hands. The stock had previously closed at $2.19.

Analyst Ratings Changes

FTCH has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on Farfetch from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, September 11th. UBS Group reduced their price target on Farfetch from $6.70 to $3.30 and set a “neutral” rating on the stock in a report on Friday, September 8th. BTIG Research reduced their target price on Farfetch from $10.00 to $5.50 and set a “buy” rating on the stock in a report on Friday, August 18th. Morgan Stanley downgraded Farfetch from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $5.00 in a report on Tuesday, August 29th. Finally, Piper Sandler reduced their target price on Farfetch from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Farfetch has an average rating of “Hold” and a consensus price target of $6.99.

Farfetch Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.02 and a debt-to-equity ratio of 1.51. The company has a market cap of $860.73 million, a PE ratio of -0.88 and a beta of 3.02. The firm has a 50 day moving average of $4.26 and a two-hundred day moving average of $4.65.

Farfetch (NYSE:FTCH) last posted its quarterly earnings results on Thursday, August 17th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The company had revenue of $572.09 million during the quarter, compared to analysts’ expectations of $657.89 million. Farfetch had a negative return on equity of 75.72% and a negative net margin of 37.83%. Research analysts predict that Farfetch Ltd will post -1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Farfetch

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC lifted its position in Farfetch by 32.2% in the 2nd quarter. Dragoneer Investment Group LLC now owns 33,981,712 shares of the company’s stock valued at $205,250,000 after acquiring an additional 8,271,557 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Farfetch by 42.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 21,277,996 shares of the company’s stock valued at $152,350,000 after acquiring an additional 6,376,075 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Farfetch by 17.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,441,289 shares of the company’s stock valued at $49,388,000 after acquiring an additional 1,560,043 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Farfetch by 8.4% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 9,126,054 shares of the company’s stock valued at $44,809,000 after acquiring an additional 703,452 shares in the last quarter. Finally, Miller Value Partners LLC lifted its holdings in shares of Farfetch by 20.2% during the 4th quarter. Miller Value Partners LLC now owns 6,852,427 shares of the company’s stock valued at $32,412,000 after buying an additional 1,153,076 shares during the period. 67.35% of the stock is owned by institutional investors.

Farfetch Company Profile

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.