Stitch Fix (NASDAQ:SFIX) Issues Earnings Results, Beats Estimates By $0.04 EPS

Stitch Fix (NASDAQ:SFIX) posted its earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04, FiscalAI reports. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The firm had revenue of $324.42 million for the quarter, compared to analysts’ expectations of $325.50 million.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX traded down $0.17 during trading hours on Wednesday, hitting $2.82. 7,261,792 shares of the company’s stock traded hands, compared to its average volume of 1,983,039. The company’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $3.53. The company has a market cap of $376.27 million, a price-to-earnings ratio of -35.25 and a beta of 2.27. Stitch Fix has a 52 week low of $2.76 and a 52 week high of $5.74.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SFIX. UBS Group cut their price objective on shares of Stitch Fix from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 2nd. Northland Securities assumed coverage on shares of Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.00.

Insider Activity at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 67,960 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $3.79, for a total value of $257,568.40. Following the transaction, the chief financial officer owned 1,102,369 shares of the company’s stock, valued at approximately $4,177,978.51. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anthony Bacos sold 70,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $286,300.00. Following the sale, the insider directly owned 951,994 shares in the company, valued at $3,893,655.46. This trade represents a 6.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 487,971 shares of company stock valued at $1,900,517. Company insiders own 16.09% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc is an online personal styling company that uses data science, personalization technology and human stylists to recommend apparel and accessories to customers. Its offerings include clothing, shoes and accessories across categories such as women’s, men’s and children’s apparel, with selections tailored to individual preferences, sizes, budgets and lifestyles.

The company’s primary service, traditionally known as a “Fix,” delivers a curated selection of items for customers to try at home, after which they can purchase the items they want and return the rest.