Equities analysts expect Stitch Fix Inc (NASDAQ:SFIX) to announce sales of $357.80 million for the current quarter, according to Zacks. Seven analysts have made estimates for Stitch Fix’s earnings, with the lowest sales estimate coming in at $354.70 million and the highest estimate coming in at $361.00 million. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Stitch Fix will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $1.48 billion to $1.53 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.80 billion, with estimates ranging from $1.73 billion to $1.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Stitch Fix.
Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, October 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.14. The company had revenue of $318.30 million during the quarter, compared to the consensus estimate of $318.93 million. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year.
Several research analysts recently weighed in on SFIX shares. Zacks Investment Research raised shares of Stitch Fix from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Saturday, September 15th. KeyCorp reaffirmed a “buy” rating and issued a $53.00 target price (up previously from $38.00) on shares of Stitch Fix in a report on Thursday, September 13th. ValuEngine raised shares of Stitch Fix from a “hold” rating to a “buy” rating in a report on Friday, August 10th. SunTrust Banks started coverage on shares of Stitch Fix in a report on Friday, August 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Wells Fargo & Co dropped coverage on shares of Stitch Fix in a report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Stitch Fix currently has an average rating of “Hold” and a consensus target price of $33.18.
Stitch Fix stock traded down $0.20 during mid-day trading on Thursday, hitting $24.32. The stock had a trading volume of 1,593,720 shares, compared to its average volume of 2,053,901. The company has a market capitalization of $2.40 billion and a P/E ratio of 62.36. Stitch Fix has a one year low of $14.48 and a one year high of $52.44.
In other Stitch Fix news, major shareholder Barry Eggers sold 31,886 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $40.88, for a total value of $1,303,499.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $25.72, for a total transaction of $643,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,507 shares of company stock worth $14,531,514.
Hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its position in shares of Stitch Fix by 18.5% during the 2nd quarter. Baillie Gifford & Co. now owns 2,290,113 shares of the company’s stock valued at $62,841,000 after buying an additional 357,686 shares in the last quarter. Light Street Capital Management LLC raised its position in shares of Stitch Fix by 18.6% during the 2nd quarter. Light Street Capital Management LLC now owns 2,010,516 shares of the company’s stock valued at $55,169,000 after buying an additional 315,101 shares in the last quarter. Pier Capital LLC raised its position in shares of Stitch Fix by 52.8% during the 2nd quarter. Pier Capital LLC now owns 307,150 shares of the company’s stock valued at $8,428,000 after buying an additional 106,101 shares in the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Stitch Fix during the 2nd quarter valued at about $6,860,000. Finally, Putnam Investments LLC purchased a new stake in shares of Stitch Fix during the 2nd quarter valued at about $6,019,000. Institutional investors and hedge funds own 21.35% of the company’s stock.
About Stitch Fix
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men and women under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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