Credit Suisse Group Lowers Farfetch (NYSE:FTCH) Price Target to $83.00

Farfetch (NYSE:FTCH) had its price target trimmed by Credit Suisse Group from $89.00 to $83.00 in a report released on Monday, The Fly reports.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their target price on shares of Farfetch from $65.00 to $70.00 and gave the company an overweight rating in a research report on Friday, January 15th. Zacks Investment Research downgraded shares of Farfetch from a hold rating to a sell rating in a research report on Tuesday, May 4th. Finally, KeyCorp raised their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $52.00.

Farfetch stock opened at $38.75 on Monday. The company has a market capitalization of $13.73 billion, a P/E ratio of -11.23 and a beta of 3.53. The business has a 50 day moving average of $49.60 and a 200-day moving average of $55.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.07 and a quick ratio of 1.83. Farfetch has a 1 year low of $12.83 and a 1 year high of $73.87.

Farfetch (NYSE:FTCH) last released its earnings results on Thursday, February 25th. The company reported ($6.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($6.15). The firm had revenue of $540.11 million for the quarter, compared to analyst estimates of $507.10 million. Farfetch had a negative net margin of 77.29% and a negative return on equity of 81.22%. Equities analysts anticipate that Farfetch will post -1.6 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of Farfetch by 52.5% in the 4th quarter. Morgan Stanley now owns 39,925,206 shares of the company’s stock worth $2,547,628,000 after purchasing an additional 13,737,367 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Farfetch by 352.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,483,141 shares of the company’s stock worth $1,626,079,000 after purchasing an additional 19,850,348 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Farfetch by 3.5% in the 1st quarter. Jennison Associates LLC now owns 14,172,322 shares of the company’s stock worth $751,417,000 after purchasing an additional 477,362 shares in the last quarter. Lone Pine Capital LLC bought a new position in Farfetch during the 4th quarter valued at $514,600,000. Finally, BlackRock Inc. lifted its stake in Farfetch by 8.3% during the 4th quarter. BlackRock Inc. now owns 7,166,519 shares of the company’s stock valued at $457,295,000 after acquiring an additional 551,468 shares in the last quarter. Institutional investors own 65.74% of the company’s stock.

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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