Farfetch (NYSE:FTCH) Given New $25.00 Price Target at Oppenheimer

Farfetch (NYSE:FTCH) had its price objective cut by Oppenheimer from $32.00 to $25.00 in a research report report published on Wednesday morning, The Fly reports.

Other research analysts also recently issued reports about the company. China Renaissance Securities reaffirmed a hold rating on shares of Farfetch in a report on Friday, August 9th. KeyCorp started coverage on Farfetch in a report on Wednesday, June 12th. They set an overweight rating and a $27.00 price target on the stock. BTIG Research started coverage on Farfetch in a report on Tuesday, July 16th. They set a buy rating and a $26.00 price target on the stock. Cowen lowered their price target on Farfetch from $33.00 to $16.00 and set a buy rating on the stock in a report on Friday, August 9th. Finally, Zacks Investment Research raised Farfetch from a sell rating to a hold rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $24.42.

Farfetch stock traded down $0.32 during mid-day trading on Wednesday, hitting $11.19. The company had a trading volume of 26,561 shares, compared to its average volume of 4,177,873. The company has a quick ratio of 4.22, a current ratio of 4.57 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $19.23. Farfetch has a 12 month low of $9.22 and a 12 month high of $32.40. The company has a market capitalization of $3.45 billion and a P/E ratio of -18.97.

Farfetch (NYSE:FTCH) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The business had revenue of $209.30 million for the quarter, compared to the consensus estimate of $196.51 million. Farfetch had a negative net margin of 40.23% and a negative return on equity of 25.09%. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year. Equities research analysts predict that Farfetch will post -1.08 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new position in shares of Farfetch in the second quarter worth about $94,234,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Farfetch by 47.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 24,656,061 shares of the company’s stock worth $512,846,000 after acquiring an additional 7,886,096 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Farfetch by 200.5% in the second quarter. Cubist Systematic Strategies LLC now owns 70,863 shares of the company’s stock worth $1,474,000 after acquiring an additional 47,280 shares during the period. Pentwater Capital Management LP boosted its stake in shares of Farfetch by 14.3% in the second quarter. Pentwater Capital Management LP now owns 80,000 shares of the company’s stock worth $1,664,000 after acquiring an additional 10,000 shares during the period. Finally, Nomura Holdings Inc. boosted its stake in shares of Farfetch by 40.0% in the second quarter. Nomura Holdings Inc. now owns 44,814 shares of the company’s stock worth $908,000 after acquiring an additional 12,814 shares during the period. Institutional investors own 50.06% of the company’s stock.

Farfetch Company Profile

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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