Farfetch Ltd (NYSE:FTCH) traded down 7.2% during trading on Monday . The stock traded as low as $17.88 and last traded at $18.09, 2,554,275 shares were traded during trading. An increase of 9% from the average session volume of 2,335,746 shares. The stock had previously closed at $19.49.
A number of analysts have issued reports on FTCH shares. Zacks Investment Research upgraded shares of Farfetch from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. KeyCorp initiated coverage on Farfetch in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $27.00 price objective for the company. Credit Suisse Group boosted their price objective on Farfetch from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a research note on Friday, June 7th. Finally, BTIG Research started coverage on Farfetch in a research note on Tuesday, July 16th. They set a “buy” rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Farfetch presently has an average rating of “Buy” and a consensus price target of $28.08.
Get Farfetch alerts: The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.22 and a current ratio of 4.57. The firm has a 50 day simple moving average of $20.82. The stock has a market capitalization of $5.84 billion and a P/E ratio of -30.66.
Farfetch (NYSE:FTCH) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.19). The firm had revenue of $174.06 million during the quarter, compared to analyst estimates of $171.06 million. During the same quarter last year, the company earned ($0.20) EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, equities research analysts forecast that Farfetch Ltd will post -0.89 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of FTCH. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Farfetch by 9,359.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after purchasing an additional 3,463 shares during the period. Barclays PLC lifted its stake in shares of Farfetch by 163.6% in the 4th quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after purchasing an additional 3,600 shares during the period. FNY Investment Advisers LLC acquired a new stake in Farfetch during the 1st quarter worth $228,000. California Public Employees Retirement System acquired a new stake in Farfetch during the 4th quarter worth $238,000. Finally, Shikiar Asset Management Inc. acquired a new stake in Farfetch during the 1st quarter worth $242,000. 48.82% of the stock is owned by institutional investors and hedge funds.
About Farfetch ( NYSE:FTCH )
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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