Stitch Fix (NASDAQ:SFIX) Price Target Raised to $5.00 at Canaccord Genuity Group

Stitch Fix (NASDAQ:SFIX) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $3.50 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 4.17% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. UBS Group reduced their price objective on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a report on Friday, October 11th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, Stitch Fix presently has an average rating of “Hold” and a consensus target price of $3.40.

Stitch Fix Stock Up 0.8 %

Shares of SFIX opened at $4.80 on Monday. The stock’s 50-day moving average price is $3.35 and its 200 day moving average price is $3.57. The firm has a market capitalization of $608.82 million, a price-to-earnings ratio of -4.44 and a beta of 1.87. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $5.05.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The business had revenue of $319.55 million for the quarter, compared to analysts’ expectations of $317.48 million. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. Equities research analysts expect that Stitch Fix will post -0.61 EPS for the current year.

Hedge Funds Weigh In On Stitch Fix

Several institutional investors have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN grew its holdings in shares of Stitch Fix by 48.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares during the last quarter. Hodges Capital Management Inc. grew its holdings in Stitch Fix by 286.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after acquiring an additional 1,860,950 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Stitch Fix in the 3rd quarter valued at about $2,862,000. Renaissance Technologies LLC raised its stake in shares of Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after acquiring an additional 465,900 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Stitch Fix by 2,253.6% during the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after purchasing an additional 140,515 shares in the last quarter. 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.