Brokerages Set Farfetch Ltd (NYSE:FTCH) PT at $22.04

Farfetch Ltd (NYSE:FTCH) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.04.

A number of equities research analysts have commented on the stock. Goldman Sachs Group reissued a “buy” rating and set a $21.40 price objective (down previously from $37.00) on shares of Farfetch in a report on Monday, November 4th. ValuEngine upgraded shares of Farfetch from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Credit Suisse Group cut their target price on shares of Farfetch from $22.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein downgraded shares of Farfetch from a “market perform” rating to an “underperform” rating in a research report on Wednesday, November 13th. Finally, KeyCorp cut their target price on shares of Farfetch from $27.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th.

Shares of FTCH traded up $0.36 during trading hours on Thursday, hitting $11.53. The stock had a trading volume of 4,219,781 shares, compared to its average volume of 3,222,187. The company’s fifty day moving average is $10.11 and its two-hundred day moving average is $11.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.63 and a quick ratio of 1.33. Farfetch has a 52 week low of $7.43 and a 52 week high of $31.60. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -19.54 and a beta of 2.61.

Farfetch (NYSE:FTCH) last posted its earnings results on Thursday, November 14th. The company reported ($0.28) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. Farfetch had a negative net margin of 35.84% and a negative return on equity of 25.14%. The business had revenue of $255.50 million for the quarter, compared to analyst estimates of $248.31 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities analysts predict that Farfetch will post -1.14 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Farfetch by 39.2% during the 2nd quarter. BlackRock Inc. now owns 1,570,536 shares of the company’s stock valued at $32,667,000 after purchasing an additional 442,430 shares during the period. Waddell & Reed Financial Inc. raised its position in shares of Farfetch by 34.1% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,013,031 shares of the company’s stock valued at $21,071,000 after acquiring an additional 257,874 shares during the period. Invesco Ltd. acquired a new stake in shares of Farfetch in the 2nd quarter valued at approximately $128,360,000. Man Group plc raised its position in shares of Farfetch by 26.2% in the 2nd quarter. Man Group plc now owns 1,397,996 shares of the company’s stock valued at $29,078,000 after acquiring an additional 290,634 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Farfetch by 16.2% in the 3rd quarter. Squarepoint Ops LLC now owns 51,365 shares of the company’s stock valued at $444,000 after acquiring an additional 7,169 shares during the period. Institutional investors own 63.71% of the company’s stock.

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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Analyst Recommendations for Farfetch (NYSE:FTCH)

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