Sanford C. Bernstein started coverage on shares of Farfetch (NYSE:FTCH) in a report released on Tuesday, April 16th, Stock Target Advisor reports. The firm issued an underperform rating and a $23.00 target price on the stock.
FTCH has been the topic of several other reports. Oppenheimer assumed 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. Citigroup assumed 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. Goldman Sachs Group upgraded shares of Farfetch from a neutral rating to a buy rating in a research note on Friday, March 1st. Finally, Zacks Investment Research cut shares of Farfetch from a hold rating to a sell rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $28.00.
Shares of NYSE FTCH traded down $0.63 during mid-day trading on Tuesday, reaching $23.94. 1,872,210 shares of the company’s stock traded hands, compared to its average volume of 2,214,264. The stock has a market capitalization of $7.37 billion and a P/E ratio of -40.58. Farfetch has a 1-year low of $15.98 and a 1-year high of $32.40.
Several hedge funds and other institutional investors have recently bought and sold shares of FTCH. Morgan Stanley bought a new stake in Farfetch during the 3rd quarter worth approximately $86,369,000. JPMorgan Chase & Co. bought a new position in shares of Farfetch in the 3rd quarter worth $14,835,000. Jane Street Group LLC bought a new position in shares of Farfetch in the 3rd quarter worth $2,969,000. Parkwood LLC bought a new position in shares of Farfetch in the 4th quarter worth $231,000. Finally, Global Thematic Partners LLC bought a new position in shares of Farfetch in the 4th quarter worth $21,275,000. 42.10% of the stock is currently owned by institutional investors.
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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