Farfetch (NYSE:FTCH) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Farfetch (NYSE:FTCH) from a sell rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

Other equities analysts also recently issued reports about the stock. Morgan Stanley upped their price target on shares of Farfetch from $65.00 to $70.00 and gave the stock an overweight rating in a research note on Friday, January 15th. Credit Suisse Group upped their price target on shares of Farfetch from $83.00 to $84.00 and gave the stock an outperform rating in a research note on Friday. KeyCorp increased their target price on shares of Farfetch from $65.00 to $75.00 and gave the stock an overweight rating in a research report on Friday, January 22nd. Finally, Oppenheimer lowered their target price on shares of Farfetch from $65.00 to $45.00 and set an outperform rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $57.00.

FTCH opened at $40.21 on Friday. The stock has a fifty day moving average of $48.30 and a 200-day moving average of $55.53. The firm has a market capitalization of $14.24 billion, a P/E ratio of -11.66 and a beta of 3.53. Farfetch has a 12-month low of $12.83 and a 12-month high of $73.87. The company has a quick ratio of 1.83, a current ratio of 2.07 and a debt-to-equity ratio of 1.05.

Farfetch (NYSE:FTCH) last released its earnings results on Thursday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.26. The company had revenue of $485.08 million during the quarter, compared to analyst estimates of $454.79 million. Farfetch had a negative return on equity of 81.22% and a negative net margin of 77.29%. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) earnings per share. On average, analysts expect that Farfetch will post -1.6 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP acquired a new stake in shares of Farfetch during the first quarter worth approximately $276,000. Sowell Financial Services LLC increased its holdings in shares of Farfetch by 118.2% during the fourth quarter. Sowell Financial Services LLC now owns 960 shares of the company’s stock worth $61,000 after buying an additional 520 shares in the last quarter. DNB Asset Management AS acquired a new stake in shares of Farfetch in the fourth quarter valued at approximately $715,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Farfetch in the fourth quarter valued at approximately $32,000. Finally, Pendal Group Limited increased its holdings in shares of Farfetch by 7.6% in the fourth quarter. Pendal Group Limited now owns 14,346 shares of the company’s stock valued at $915,000 after purchasing an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 65.74% 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.

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