Farfetch Ltd (NYSE:FTCH – Get Rating) shares saw strong trading volume on Friday after Credit Suisse Group raised their price target on the stock from $11.00 to $12.00. 42,624,446 shares were traded during mid-day trading, an increase of 230% from the previous session’s volume of 12,927,543 shares.The stock last traded at $5.29 and had previously closed at $4.34.
Other research analysts have also recently issued reports about the company. Citigroup reduced their price objective on Farfetch from $6.00 to $4.00 and set a “sell” rating for the company in a research note on Friday, March 24th. JMP Securities initiated coverage on Farfetch in a research note on Friday, March 24th. They issued a “market perform” rating for the company. KeyCorp reduced their price objective on Farfetch from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Finally, Oppenheimer raised their price objective on Farfetch from $7.00 to $7.50 and gave the stock an “outperform” rating in a research note on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.46.
Institutional Trading of Farfetch
Institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. boosted its stake in shares of Farfetch by 30.4% in the first quarter. Advisor Group Holdings Inc. now owns 23,272 shares of the company’s stock worth $352,000 after acquiring an additional 5,425 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Farfetch by 96.9% in the first quarter. Raymond James & Associates now owns 253,614 shares of the company’s stock worth $3,835,000 after acquiring an additional 124,803 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Farfetch by 95.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 86,112 shares of the company’s stock worth $1,302,000 after acquiring an additional 42,006 shares during the last quarter. US Bancorp DE boosted its stake in Farfetch by 14.2% during the first quarter. US Bancorp DE now owns 30,731 shares of the company’s stock worth $465,000 after buying an additional 3,818 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Farfetch by 94.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,848 shares of the company’s stock worth $194,000 after buying an additional 6,253 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.
Farfetch Price Performance
Farfetch (NYSE:FTCH – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.42) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.42). The company had revenue of $629.17 million for the quarter, compared to analyst estimates of $626.97 million. Farfetch had a return on equity of 22.84% and a net margin of 15.51%. On average, equities research analysts predict that Farfetch Ltd will post -1.37 earnings per share for the current fiscal year.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Farfetch (FTCH)
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