Farfetch (NYSE:FTCH) Issues Quarterly Earnings Results

Farfetch (NYSE:FTCH) posted its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09, Fidelity Earnings reports. The business had revenue of $255.50 million during the quarter, compared to the consensus estimate of $248.31 million. Farfetch had a negative net margin of 40.23% and a negative return on equity of 25.53%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.30) earnings per share.

Shares of NYSE:FTCH traded up $2.19 during midday trading on Friday, hitting $9.67. 24,087,465 shares of the stock traded hands, compared to its average volume of 3,038,712. The stock has a market capitalization of $2.45 billion, a PE ratio of -16.39 and a beta of 2.50. The business’s 50 day moving average is $8.34 and its two-hundred day moving average is $15.55. The company has a quick ratio of 2.91, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. Farfetch has a one year low of $7.43 and a one year high of $31.60.

FTCH has been the subject of several recent research reports. ValuEngine raised shares of Farfetch from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co set a $17.00 price target on shares of Farfetch and gave the stock a “buy” rating in a research note on Friday, August 9th. China Renaissance Securities reissued a “hold” rating on shares of Farfetch in a research note on Friday, August 9th. Credit Suisse Group set a $22.00 price target on shares of Farfetch and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer lowered their price target on shares of Farfetch from $32.00 to $25.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.34.

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.

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Earnings History for Farfetch (NYSE:FTCH)

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