Needham & Company LLC Increases Stitch Fix (NASDAQ:SFIX) Price Target to $46.00

Stitch Fix (NASDAQ:SFIX) had its price target raised by equities researchers at Needham & Company LLC from $34.00 to $46.00 in a report released on Wednesday, AR Network reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 20.86% from the stock’s previous close.

A number of other research firms also recently commented on SFIX. ValuEngine downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Truist raised their price objective on shares of Stitch Fix from $28.00 to $34.00 in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Stitch Fix in a report on Wednesday, September 9th. They set a “buy” rating and a $34.00 price objective for the company. BidaskClub raised shares of Stitch Fix from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 29th. Finally, MKM Partners started coverage on shares of Stitch Fix in a report on Thursday, September 17th. They set a “neutral” rating and a $25.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.35.

NASDAQ SFIX opened at $38.06 on Wednesday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -57.67 and a beta of 2.61. The company’s fifty day moving average is $36.36 and its two-hundred day moving average is $28.14. Stitch Fix has a 52-week low of $10.90 and a 52-week high of $42.38.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, September 22nd. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.26). The business had revenue of $443.40 million for the quarter, compared to the consensus estimate of $415.52 million. Stitch Fix had a negative return on equity of 16.07% and a negative net margin of 3.92%. Stitch Fix’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. Sell-side analysts forecast that Stitch Fix will post -0.09 earnings per share for the current year.

In other news, Director Steven P. Anderson sold 350,000 shares of Stitch Fix stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $29.37, for a total transaction of $10,279,500.00. Also, Director Marka Hansen sold 4,000 shares of Stitch Fix stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $26.21, for a total transaction of $104,840.00. Following the sale, the director now owns 4,000 shares of the company’s stock, valued at approximately $104,840. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 772,926 shares of company stock valued at $24,268,034. Insiders own 47.52% of the company’s stock.

Several large investors have recently modified their holdings of SFIX. Point72 Hong Kong Ltd acquired a new stake in shares of Stitch Fix during the 3rd quarter worth approximately $40,000. Nisa Investment Advisors LLC acquired a new stake in shares of Stitch Fix during the 3rd quarter worth approximately $49,000. Flagship Harbor Advisors LLC grew its position in shares of Stitch Fix by 77.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,065 shares of the company’s stock worth $51,000 after buying an additional 900 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of Stitch Fix during the 3rd quarter worth approximately $73,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Stitch Fix by 105.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,022 shares of the company’s stock worth $75,000 after buying an additional 1,554 shares during the period. Institutional investors own 51.35% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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