Stitch Fix (NASDAQ:SFIX) Issues Earnings Results, Misses Expectations By $0.15 EPS

Stitch Fix (NASDAQ:SFIXGet Rating) released its earnings results on Thursday. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.15), Briefing.com reports. The business had revenue of $492.90 million during the quarter, compared to analysts’ expectations of $493.71 million. Stitch Fix had a negative return on equity of 6.58% and a negative net margin of 1.37%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) earnings per share. Stitch Fix updated its Q4 2022 guidance to EPS.

SFIX stock opened at $6.34 on Friday. The business has a 50-day moving average price of $8.99 and a 200 day moving average price of $13.55. The company has a market capitalization of $689.79 million, a P/E ratio of -21.86 and a beta of 1.74. Stitch Fix has a 1-year low of $6.18 and a 1-year high of $64.52.

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Stitch Fix from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Bernstein Bank assumed coverage on shares of Stitch Fix in a report on Tuesday, March 15th. They issued a “market perform” rating and a $11.00 target price for the company. MKM Partners lowered their price target on Stitch Fix from $19.00 to $9.00 in a research report on Monday, March 7th. Jefferies Financial Group assumed coverage on Stitch Fix in a research report on Friday, March 18th. They issued a “hold” rating and a $10.00 price target for the company. Finally, Barclays lowered their price target on Stitch Fix from $22.00 to $12.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.75.

A number of institutional investors and hedge funds have recently bought and sold shares of SFIX. Janus Henderson Group PLC purchased a new position in Stitch Fix in the third quarter valued at about $242,000. Bank of New York Mellon Corp grew its stake in Stitch Fix by 5.6% in the third quarter. Bank of New York Mellon Corp now owns 236,169 shares of the company’s stock valued at $9,436,000 after purchasing an additional 12,450 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Stitch Fix by 27.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,620 shares of the company’s stock worth $12,216,000 after acquiring an additional 138,294 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Stitch Fix by 27.1% during the fourth quarter. Geode Capital Management LLC now owns 1,403,526 shares of the company’s stock worth $26,554,000 after acquiring an additional 299,432 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Stitch Fix by 21.4% during the fourth quarter. Invesco Ltd. now owns 75,591 shares of the company’s stock worth $1,430,000 after acquiring an additional 13,313 shares during the last quarter. Institutional investors own 70.50% of the company’s stock.

Stitch Fix Company Profile (Get Rating)

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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Earnings History for Stitch Fix (NASDAQ:SFIX)

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