Farfetch (NYSE:FTCH) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Farfetch (NYSE:FTCH) from a sell rating to a hold rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

Other research analysts have also recently issued reports about the stock. Goldman Sachs Group upgraded shares of Farfetch from a neutral rating to a buy rating in a research report on Friday, March 1st. Oppenheimer began coverage on shares of Farfetch in a research report on Monday, March 11th. They issued an outperform rating and a $34.00 price objective on the stock. Sanford C. Bernstein began coverage on shares of Farfetch in a research report on Tuesday, April 16th. They issued an underperform rating and a $23.00 price objective on the stock. Citigroup began coverage on shares of Farfetch in a research report on Monday, March 11th. They issued an outperform rating and a $34.00 price objective on the stock. Finally, Credit Suisse Group upped their price objective on shares of Farfetch from $29.00 to $30.00 and gave the stock an outperform rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $28.09.

FTCH stock opened at $21.08 on Monday. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.08 billion and a P/E ratio of -35.73. Farfetch has a 1-year low of $15.98 and a 1-year high of $32.40.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.19). The company had revenue of $174.06 million for the quarter, compared to the consensus estimate of $171.06 million. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. As a group, sell-side analysts predict that Farfetch will post -0.88 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in Farfetch by 163.6% during 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 bought a new position in Farfetch during the fourth quarter valued at approximately $135,000. Janney Montgomery Scott LLC purchased a new stake in shares of Farfetch during the fourth quarter valued at approximately $226,000. FNY Investment Advisers LLC purchased a new stake in shares of Farfetch during the first quarter valued at approximately $228,000. Finally, Parkwood LLC purchased a new stake in shares of Farfetch during the fourth quarter valued at approximately $231,000. Institutional investors and hedge funds own 48.31% of the company’s stock.

About Farfetch

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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