Farfetch Ltd (FTCH) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Farfetch Ltd (NYSE:FTCH) have been assigned a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.44.

FTCH has been the topic of several analyst reports. Zacks Investment Research cut shares of Farfetch from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Goldman Sachs Group upgraded shares of Farfetch from a “neutral” rating to a “buy” rating in a report on Friday, March 1st. Citigroup initiated coverage on shares of Farfetch in a report on Monday, March 11th. They set an “outperform” rating and a $34.00 price target on the stock. Oppenheimer initiated coverage on shares of Farfetch in a report on Monday, March 11th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Farfetch in a report on Tuesday, April 16th. They set an “underperform” rating and a $23.00 price target on the stock.

Farfetch stock opened at $25.56 on Friday. Farfetch has a fifty-two week low of $15.98 and a fifty-two week high of $32.40. The stock has a market cap of $7.63 billion and a P/E ratio of -43.32.

Farfetch (NYSE:FTCH) last released its quarterly earnings results on Thursday, February 28th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. The firm had revenue of $195.53 million for the quarter, compared to analysts’ expectations of $180.44 million. As a group, analysts predict that Farfetch will post -0.64 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Investors Inc. PA purchased a new position in Farfetch in the third quarter valued at about $82,000. Barclays PLC boosted its stake in Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after acquiring an additional 3,600 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in Farfetch in the fourth quarter valued at about $135,000. Pendal Group Ltd boosted its stake in Farfetch by 6.2% in the fourth quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock valued at $195,000 after acquiring an additional 639 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Farfetch in the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 42.04% 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.

Recommended Story: Hedge Funds Explained

Analyst Recommendations for Farfetch (NYSE:FTCH)

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.