Farfetch Ltd (NYSE:FTCH – Get Rating) dropped 8.8% on Thursday . The company traded as low as $7.40 and last traded at $7.42. Approximately 97,621 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 9,292,500 shares. The stock had previously closed at $8.14.
Wall Street Analyst Weigh In
FTCH has been the subject of a number of research analyst reports. Societe Generale lowered their price target on Farfetch from $18.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, July 12th. Cowen upped their price objective on Farfetch from $9.00 to $11.00 and gave the company a "market perform" rating in a report on Tuesday, August 30th. KeyCorp upped their price objective on Farfetch from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Friday, August 26th. Piper Sandler assumed coverage on Farfetch in a report on Friday, July 22nd. They issued a "neutral" rating and a $9.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on Farfetch from $20.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Farfetch presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.53.
Get Farfetch alerts:Farfetch Stock Down 9.2 %
The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -5.47 and a beta of 2.85. The company has a quick ratio of 1.25, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $9.35 and a two-hundred day moving average of $10.07.
Farfetch (NYSE:FTCH – Get Rating) last posted 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). Farfetch had a return on equity of 245.67% and a net margin of 71.25%. The firm had revenue of $579.35 million for the quarter, compared to analyst estimates of $566.53 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. Farfetch's quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Farfetch Ltd will post -1.16 earnings per share for the current year.Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of FTCH. Crow s Nest Holdings LP acquired a new position in Farfetch in the 4th quarter worth about $13,479,000. Cinctive Capital Management LP acquired a new position in shares of Farfetch during the 4th quarter valued at about $1,127,000. Capital World Investors increased its holdings in shares of Farfetch by 134.4% during the 4th quarter. Capital World Investors now owns 4,588,809 shares of the company's stock valued at $153,404,000 after acquiring an additional 2,631,408 shares during the last quarter. Mirova increased its holdings in shares of Farfetch by 37.3% during the 4th quarter. Mirova now owns 79,177 shares of the company's stock valued at $2,646,000 after acquiring an additional 21,490 shares during the last quarter. Finally, Lone Pine Capital LLC increased its holdings in shares of Farfetch by 6.5% during the 4th quarter. Lone Pine Capital LLC now owns 24,439,933 shares of the company's stock valued at $817,027,000 after acquiring an additional 1,494,801 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.
About Farfetch
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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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