Farfetch (FTCH) Price Target Raised to $30.00 at Credit Suisse Group

Farfetch (NYSE:FTCH) had its target price lifted by Credit Suisse Group from $29.00 to $30.00 in a research note issued to investors on Thursday morning, 24/7 WallStreet reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Farfetch from a hold rating to a sell rating in a report on Friday, April 19th. Sanford C. Bernstein began coverage on shares of Farfetch in a report on Tuesday, April 16th. They set an underperform rating and a $23.00 price target for the company. Goldman Sachs Group raised shares of Farfetch from a neutral rating to a buy rating in a report on Friday, March 1st. Oppenheimer began coverage on shares of Farfetch in a report on Monday, March 11th. They set an outperform rating and a $34.00 price target for the company. Finally, Citigroup began coverage on shares of Farfetch in a report on Monday, March 11th. They set an outperform rating and a $34.00 price target for the company. 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. Farfetch presently has a consensus rating of Buy and a consensus target price of $28.20.

Shares of NYSE:FTCH opened at $22.69 on Thursday. Farfetch has a 12-month low of $15.98 and a 12-month high of $32.40. The company has a market cap of $6.80 billion and a price-to-earnings ratio of -38.46. The company has a current ratio of 4.57, a quick ratio of 5.86 and a debt-to-equity ratio of 0.07.

Farfetch (NYSE:FTCH) last announced its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.19). The business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $171.06 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts expect that Farfetch will post -0.69 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of FTCH. JPMorgan Chase & Co. bought a new position in Farfetch in the 3rd quarter valued at approximately $14,835,000. Teachers Advisors LLC bought a new position in shares of Farfetch during the third quarter valued at $42,504,000. TIAA CREF Investment Management LLC bought a new position in shares of Farfetch during the third quarter valued at $64,657,000. Global Thematic Partners LLC bought a new position in shares of Farfetch during the fourth quarter valued at $21,275,000. Finally, Pendal Group Ltd raised its stake in shares of Farfetch by 6.2% during 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. 42.67% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Farfetch (NYSE:FTCH)

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