Deutsche Bank Initiates Coverage on Farfetch (NYSE:FTCH)

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Deutsche Bank initiated coverage on shares of Farfetch (NYSE:FTCH) in a research report sent to investors on Tuesday, October 16th, MarketBeat.com reports. The brokerage issued a buy rating and a $28.00 target price on the stock.

FTCH has been the subject of several other research reports. Goldman Sachs Group initiated coverage on shares of Farfetch in a research report on Tuesday, October 16th. They set a neutral rating and a $24.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Farfetch in a research report on Tuesday, October 16th. They set an overweight rating and a $27.00 price objective for the company. Cowen assumed coverage on shares of Farfetch in a research report on Tuesday, October 16th. They issued an outperform rating for the company. Credit Suisse Group assumed coverage on shares of Farfetch in a research report on Tuesday, October 16th. They issued an outperform rating and a $28.00 price target for the company. Finally, Wells Fargo & Co initiated coverage on shares of Farfetch in a research report on Tuesday, October 16th. They issued an outperform rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $27.00.

NYSE FTCH traded up $1.22 during trading hours on Tuesday, reaching $23.27. The company’s stock had a trading volume of 2,213,349 shares, compared to its average volume of 1,346,060. Farfetch has a 52 week low of $18.39 and a 52 week high of $32.40.

Farfetch (NYSE:FTCH) last released its earnings results on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $132.18 million for the quarter, compared to analyst estimates of $114.49 million. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. Analysts forecast that Farfetch will post -0.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Farfetch in the 3rd quarter valued at about $123,826,000. FMR LLC bought a new stake in Farfetch in the 3rd quarter valued at about $99,189,000. Gilder Gagnon Howe & Co. LLC bought a new stake in Farfetch in the 3rd quarter valued at about $67,105,000. BlackRock Inc. bought a new stake in Farfetch in the 3rd quarter valued at about $42,733,000. Finally, Winslow Capital Management LLC purchased a new position in Farfetch during the 3rd quarter valued at about $37,907,000. Institutional investors own 0.10% 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 on May 15, 2018 and is headquartered in London, the United Kingdom.

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