Farfetch Ltd (NYSE:FTCH – Get Rating)'s share price gapped down before the market opened on Monday . The stock had previously closed at $8.57, but opened at $8.17. Farfetch shares last traded at $8.05, with a volume of 10,124 shares.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on FTCH shares. JPMorgan Chase & Co. decreased their price target on shares of Farfetch from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, June 29th. Credit Suisse Group decreased their price target on shares of Farfetch from $29.00 to $23.00 and set an "outperform" rating for the company in a research note on Monday, August 22nd. Societe Generale decreased their price target on shares of Farfetch from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, July 12th. UBS Group downgraded shares of Farfetch from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $13.00 to $10.00 in a research note on Tuesday, June 28th. Finally, Cowen increased their price target on shares of Farfetch from $9.00 to $11.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.53.
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Farfetch Stock Down 2.8 %
The company has a market cap of $3.00 billion, a P/E ratio of -5.83 and a beta of 2.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.25. The company's 50-day moving average is $9.35 and its two-hundred day moving average is $10.08.
Farfetch (NYSE:FTCH – Get Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported ($0.36) earnings per share for the quarter, meeting the consensus estimate of ($0.36). The company had revenue of $579.35 million during the quarter, compared to the consensus estimate of $566.53 million. Farfetch had a net
margin of 71.25% and a return on equity of 245.67%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) earnings per share. As a group, equities analysts predict that Farfetch Ltd will post -1.16 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Farfetch
Several institutional investors and hedge funds have recently added to or reduced their stakes in FTCH. Dragoneer Investment Group LLC purchased a new stake in Farfetch in the first quarter worth approximately $160,461,000. Price T Rowe Associates Inc. MD boosted its holdings in Farfetch by 42.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 21,277,996 shares of the company's stock worth $152,350,000 after purchasing an additional 6,376,075 shares during the last quarter. Eminence Capital LP purchased a new stake in Farfetch in the first quarter worth approximately $73,646,000. Baillie Gifford & Co. boosted its holdings in Farfetch by 13.9% in the second quarter. Baillie Gifford & Co. now owns 34,828,067 shares of the company's stock worth $249,369,000 after purchasing an additional 4,237,536 shares during the last quarter. Finally, Bares Capital Management Inc. boosted its holdings in Farfetch by 129.6% in the second quarter. Bares Capital Management Inc. now owns 7,305,896 shares of the company's stock worth $52,310,000 after purchasing an additional 4,123,600 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.
Farfetch Company Profile
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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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