Farfetch Ltd (FTCH) Expected to Post Quarterly Sales of $171.95 Million

Wall Street brokerages forecast that Farfetch Ltd (NYSE:FTCH) will report sales of $171.95 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Farfetch’s earnings. The highest sales estimate is $177.67 million and the lowest is $167.35 million. The business is expected to issue its next quarterly earnings report on Thursday, May 23rd.

According to Zacks, analysts expect that Farfetch will report full-year sales of $822.19 million for the current year, with estimates ranging from $800.60 million to $842.83 million. For the next financial year, analysts expect that the firm will post sales of $1.07 billion, with estimates ranging from $1.04 billion to $1.12 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Farfetch.

Farfetch (NYSE:FTCH) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The company had revenue of $195.53 million during the quarter, compared to analyst estimates of $180.44 million.

A number of research firms have commented on FTCH. Zacks Investment Research cut shares of Farfetch from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Oppenheimer initiated coverage on shares of Farfetch in a report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price target for the company. Citigroup initiated coverage on shares of Farfetch in a report on Monday, March 11th. They set an “outperform” rating and a $34.00 price objective for the company. Finally, Goldman Sachs Group upgraded shares of Farfetch from a “neutral” rating to a “buy” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Farfetch has an average rating of “Buy” and a consensus target price of $28.56.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley acquired a new position in shares of Farfetch during the third quarter valued at about $86,369,000. JPMorgan Chase & Co. acquired a new position in shares of Farfetch during the third quarter valued at about $14,835,000. Citadel Advisors LLC acquired a new position in shares of Farfetch during the third quarter valued at about $3,712,000. Jane Street Group LLC acquired a new position in shares of Farfetch during the third quarter valued at about $2,969,000. Finally, Parkwood LLC acquired a new position in shares of Farfetch during the fourth quarter valued at about $231,000. Hedge funds and other institutional investors own 41.99% of the company’s stock.

NYSE:FTCH traded down $0.74 during trading hours on Friday, reaching $26.01. The company had a trading volume of 1,756,370 shares, compared to its average volume of 1,589,680. The stock has a market capitalization of $7.96 billion and a price-to-earnings ratio of -44.08. Farfetch has a twelve month low of $15.98 and a twelve month high of $32.40.

Farfetch Company Profile

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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