Cowen Reaffirms “Buy” Rating for Farfetch (FTCH)

Cowen reaffirmed their buy rating on shares of Farfetch (NYSE:FTCH) in a research report released on Friday morning. Cowen currently has a $28.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on FTCH. Goldman Sachs Group began coverage on Farfetch in a report on Tuesday, October 16th. They issued a neutral rating and a $24.00 price objective for the company. UBS Group began coverage on Farfetch in a research report on Tuesday, October 16th. They issued a buy rating for the company. JPMorgan Chase & Co. began coverage on Farfetch in a research report on Tuesday, October 16th. They issued an overweight rating and a $27.00 target price for the company. Wells Fargo & Co began coverage on Farfetch in a research report on Tuesday, October 16th. They issued an outperform rating and a $30.00 target price for the company. Finally, Credit Suisse Group began coverage on Farfetch in a research report on Tuesday, October 16th. They issued an outperform rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $27.00.

NYSE FTCH traded up $1.22 on Friday, hitting $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 quarterly earnings data on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The business had revenue of $132.18 million during the quarter, compared to analyst estimates of $114.49 million. During the same period in the prior year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. As a group, research analysts expect that Farfetch will post -0.57 earnings per share for the current year.

Several large investors have recently made changes to their positions in FTCH. Massachusetts Financial Services Co. MA bought a new position in shares of Farfetch in the 3rd quarter worth approximately $8,093,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Farfetch in the 3rd quarter worth approximately $67,105,000. Wells Fargo & Company MN bought a new position in shares of Farfetch in the 3rd quarter worth approximately $33,245,000. Thornburg Investment Management Inc. bought a new position in shares of Farfetch in the 3rd quarter worth approximately $6,560,000. Finally, Pendal Group Ltd bought a new position in shares of Farfetch in the 3rd quarter worth approximately $282,000. 0.10% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Farfetch (NYSE:FTCH)

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