Stitch Fix (NASDAQ:SFIX) Given New $3.80 Price Target at UBS Group

Stitch Fix (NASDAQ:SFIX) had its target price increased by equities research analysts at UBS Group from $2.80 to $3.80 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential downside of 13.83% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Thursday, May 30th. Wedbush reiterated a “neutral” rating and set a $3.00 target price on shares of Stitch Fix in a report on Wednesday, June 5th. Canaccord Genuity Group increased their price target on shares of Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a report on Thursday, June 27th. Truist Financial boosted their target price on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Finally, Mizuho increased their price objective on shares of Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.45.

Stitch Fix Stock Performance

NASDAQ:SFIX opened at $4.41 on Monday. The firm has a market cap of $539.52 million, a PE ratio of -4.32 and a beta of 1.97. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $5.20. The business has a 50 day moving average price of $3.10 and a 200-day moving average price of $2.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. The firm had revenue of $322.73 million for the quarter, compared to analysts’ expectations of $305.93 million. Research analysts predict that Stitch Fix will post -0.73 EPS for the current year.

Insider Transactions at Stitch Fix

In related news, CAO Sarah Barkema sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.74, for a total transaction of $112,200.00. Following the completion of the sale, the chief accounting officer now owns 108,535 shares in the company, valued at $405,920.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

Hedge funds have recently bought and sold shares of the stock. Hodges Capital Management Inc. bought a new stake in Stitch Fix in the first quarter worth $1,716,000. Los Angeles Capital Management LLC purchased a new stake in shares of Stitch Fix during the 4th quarter valued at about $239,000. SG Americas Securities LLC lifted its holdings in shares of Stitch Fix by 32.5% in the 4th quarter. SG Americas Securities LLC now owns 35,548 shares of the company’s stock valued at $127,000 after acquiring an additional 8,711 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Stitch Fix in the fourth quarter worth about $42,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Stitch Fix during the fourth quarter worth approximately $199,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

About Stitch Fix

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