Farfetch Ltd (NYSE:FTCH) Receives Average Recommendation of “Buy” from Analysts

Shares of Farfetch Ltd (NYSE:FTCH) have been assigned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.36.

A number of research firms have recently commented on FTCH. Wells Fargo & Co set a $17.00 target price on shares of Farfetch and gave the stock a “buy” rating in a research note on Friday, August 9th. Cowen decreased their price target on shares of Farfetch from $33.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Bank of America lowered their price objective on Farfetch from $33.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Oppenheimer lowered their price objective on Farfetch from $32.00 to $25.00 in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a research note on Friday, June 7th.

Farfetch stock traded up $0.68 during trading on Friday, reaching $9.95. The company had a trading volume of 7,188,469 shares, compared to its average volume of 2,784,542. The firm has a market capitalization of $2.75 billion and a PE ratio of -16.86. The firm’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $20.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.91 and a current ratio of 3.19. Farfetch has a 1-year low of $8.82 and a 1-year high of $32.40.



Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.09). The company had revenue of $209.30 million for the quarter, compared to analyst estimates of $196.51 million. Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. The business’s revenue was up 42.7% compared to the same quarter last year. Analysts anticipate that Farfetch will post -1.18 EPS for the current year.

Several large investors have recently bought and sold shares of FTCH. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Farfetch during the 2nd quarter valued at about $37,000. Mirova purchased a new position in Farfetch in the 2nd quarter worth approximately $53,000. Royal Bank of Canada boosted its holdings in shares of Farfetch by 7,657.5% during the 2nd quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock worth $64,000 after purchasing an additional 3,063 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Farfetch by 9,359.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock worth $73,000 after purchasing an additional 3,463 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Farfetch during the 2nd quarter worth approximately $154,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

About Farfetch

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.

Further Reading: Buyback

Analyst Recommendations for Farfetch (NYSE:FTCH)

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