Several other equities analysts have also commented on the stock. Cowen dropped their price target on shares of Farfetch from $33.00 to $16.00 and set a buy rating for the company in a research report on Friday. BTIG Research assumed coverage on shares of Farfetch in a research report on Tuesday, July 16th. They set a buy rating and a $26.00 price target for the company. Credit Suisse Group set a $22.00 price target on shares of Farfetch and gave the stock a buy rating in a research report on Friday. Sanford C. Bernstein upgraded shares of Farfetch from an underperform rating to a market perform rating in a research note on Friday, June 7th. Finally, KeyCorp began coverage on shares of Farfetch in a research note on Wednesday, June 12th. They set an overweight rating and a $27.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $25.17.
FTCH stock traded up $1.27 on Friday, hitting $11.40. 11,952,460 shares of the company were exchanged, compared to its average volume of 1,931,986. Farfetch has a twelve month low of $9.22 and a twelve month high of $32.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.57 and a quick ratio of 4.22. The company has a fifty day simple moving average of $20.27. The firm has a market cap of $5.47 billion and a PE ratio of -19.32.
Hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Farfetch by 9,359.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after acquiring an additional 3,463 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Farfetch during the first quarter worth $228,000. LA Financiere DE L Echiquier acquired a new stake in shares of Farfetch during the second quarter worth $239,000. Shikiar Asset Management Inc. acquired a new stake in shares of Farfetch during the first quarter worth $242,000. Finally, First Trust Advisors LP acquired a new stake in shares of Farfetch during the first quarter worth $276,000. Institutional investors and hedge funds own 48.82% of the company’s stock.
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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