Farfetch Ltd (NYSE:FTCH) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 32,200,000 shares, a decrease of 9.4% from the August 31st total of 35,530,000 shares. Based on an average daily volume of 5,100,000 shares, the days-to-cover ratio is currently 6.3 days. Approximately 16.1% of the company’s shares are sold short.
A number of brokerages recently issued reports on FTCH. Credit Suisse Group upped their price objective on shares of Farfetch from $20.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Oppenheimer upped their price objective on shares of Farfetch from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. BTIG Research upped their target price on shares of Farfetch from $20.50 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 14th. China Renaissance Securities raised shares of Farfetch from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, July 9th. Finally, KeyCorp upped their target price on shares of Farfetch from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $26.88.
NYSE:FTCH traded down $0.79 on Friday, hitting $26.32. The company’s stock had a trading volume of 3,509,237 shares, compared to its average volume of 4,505,821. The company has a current ratio of 2.16, a quick ratio of 1.94 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $26.49 and a two-hundred day moving average of $18.20. The firm has a market capitalization of $8.94 billion, a P/E ratio of -12.24 and a beta of 2.98. Farfetch has a one year low of $5.99 and a one year high of $31.88.
Farfetch (NYSE:FTCH) last announced its earnings results on Thursday, August 13th. The company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.93). The firm had revenue of $364.68 million for the quarter, compared to the consensus estimate of $316.06 million. Farfetch had a negative return on equity of 59.19% and a negative net margin of 54.36%. As a group, sell-side analysts anticipate that Farfetch will post -1.67 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley lifted its position in Farfetch by 4.3% during the first quarter. Morgan Stanley now owns 40,919,962 shares of the company’s stock worth $323,268,000 after buying an additional 1,677,559 shares during the period. Invesco Ltd. increased its stake in shares of Farfetch by 11.0% during the first quarter. Invesco Ltd. now owns 13,589,299 shares of the company’s stock worth $107,354,000 after purchasing an additional 1,342,395 shares during the period. FMR LLC increased its stake in shares of Farfetch by 2,212.4% during the second quarter. FMR LLC now owns 10,198,087 shares of the company’s stock worth $176,120,000 after purchasing an additional 9,757,067 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Farfetch by 4.9% during the first quarter. Nuveen Asset Management LLC now owns 4,371,764 shares of the company’s stock worth $34,537,000 after purchasing an additional 205,387 shares during the period. Finally, SCP Investment LP increased its stake in Farfetch by 20.0% during the 2nd quarter. SCP Investment LP now owns 1,800,000 shares of the company’s stock worth $31,086,000 after acquiring an additional 300,000 shares during the period. Institutional investors and hedge funds own 67.16% of the company’s stock.
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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