Farfetch (FTCH) Price Target Raised to $30.00

Farfetch (FTCH) Price Target Raised to $30.00

Farfetch (NYSE:FTCH) had its target price boosted by Credit Suisse Group from $29.00 to $30.00 in a research report issued on Thursday, 24/7 WallStreet reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price objective points to a potential upside of 27.17% from the stock’s current price.

A number of other research firms have also recently weighed in on FTCH. Zacks Investment Research cut Farfetch from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Goldman Sachs Group raised Farfetch from a “neutral” rating to a “buy” rating in a research report on Friday, March 1st. Citigroup started coverage on Farfetch in a research report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price objective for the company. Oppenheimer started coverage on Farfetch in a research report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on Farfetch in a research report on Tuesday, April 16th. They issued an “underperform” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Farfetch presently has an average rating of “Buy” and a consensus target price of $28.20.

Shares of NYSE:FTCH opened at $23.59 on Thursday. Farfetch has a 12-month low of $15.98 and a 12-month high of $32.40. The firm has a market capitalization of $6.90 billion and a PE ratio of -39.98.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, February 28th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.06. The business had revenue of $195.53 million during the quarter, compared to analyst estimates of $180.44 million. As a group, sell-side analysts anticipate that Farfetch will post -0.63 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTCH. JPMorgan Chase & Co. purchased a new position in shares of Farfetch during the 3rd quarter valued at about $14,835,000. Teachers Advisors LLC purchased a new position in shares of Farfetch during the 3rd quarter valued at about $42,504,000. TIAA CREF Investment Management LLC purchased a new position in shares of Farfetch during the 3rd quarter valued at about $64,657,000. Global Thematic Partners LLC purchased a new position in shares of Farfetch during the 4th quarter valued at about $21,275,000. Finally, Pendal Group Ltd raised its stake in shares of Farfetch by 6.2% during the 4th quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock valued at $195,000 after buying an additional 639 shares during the last quarter. Institutional investors and hedge funds own 42.67% 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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