Farfetch (NYSE:FTCH) Stock Price Up 16.9%

Farfetch Ltd (NYSE:FTCH)’s stock price rose 16.9% on Wednesday . The stock traded as high as $1.80 and last traded at $1.77. Approximately 3,656,515 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 13,319,540 shares. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FTCH shares. UBS Group lowered their price objective on shares of Farfetch from $6.70 to $3.30 and set a “neutral” rating on the stock in a research note on Friday, September 8th. Wedbush lowered their price objective on shares of Farfetch from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, August 18th. Piper Sandler lowered their price objective on shares of Farfetch from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, August 18th. BTIG Research lowered their price objective on shares of Farfetch from $10.00 to $5.50 and set a “buy” rating on the stock in a research note on Friday, August 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Farfetch from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, September 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Farfetch presently has a consensus rating of “Hold” and an average target price of $6.31.

Farfetch Stock Down 4.9 %

The stock’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $3.81. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.47 and a quick ratio of 1.02.

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

Hedge Funds Weigh In On Farfetch

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bourgeon Capital Management LLC bought a new position in Farfetch during the third quarter worth $25,000. Vanguard Personalized Indexing Management LLC bought a new position in Farfetch during the third quarter worth $25,000. Rathbones Group PLC bought a new position in Farfetch during the third quarter worth $31,000. Eagle Bay Advisors LLC bought a new position in Farfetch during the second quarter worth $32,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in Farfetch during the third quarter worth $36,000. Institutional investors own 67.35% of the company’s stock.

About Farfetch

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.