Farfetch Ltd (FTCH) Receives Average Rating of “Buy” from Analysts

Farfetch Ltd (NYSE:FTCH) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $27.00.

FTCH has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on shares of Farfetch in a research report on Tuesday, October 16th. They set an “outperform” rating and a $28.00 price target for the company. BNP Paribas initiated coverage on shares of Farfetch in a research report on Friday, October 19th. They set a “neutral” rating and a $24.00 price target for the company. Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Farfetch in a research report on Friday. UBS Group initiated coverage on shares of Farfetch in a research report on Tuesday, October 16th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Farfetch in a research report on Tuesday, October 16th. They set an “overweight” rating and a $27.00 price target for the company.

Several institutional investors have recently added to or reduced their stakes in the company. Blueport Capital L.P. acquired a new stake in shares of Farfetch in the third quarter worth $120,000. Pendal Group Ltd acquired a new stake in shares of Farfetch in the third quarter worth $282,000. Shikiar Asset Management Inc. acquired a new stake in shares of Farfetch in the third quarter worth $436,000. Dean Capital Investments Management LLC acquired a new stake in shares of Farfetch in the third quarter worth $574,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Farfetch in the third quarter worth $676,000. 0.10% of the stock is owned by institutional investors.

Shares of FTCH stock opened at $23.27 on Friday. Farfetch has a one year low of $18.39 and a one year high of $32.40.

Farfetch (NYSE:FTCH) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $132.18 million for the quarter, compared to analysts’ expectations of $114.49 million. During the same period last year, the business earned ($0.12) earnings per share. The business’s revenue was up 52.1% compared to the same quarter last year. On average, sell-side analysts expect that Farfetch will post -0.57 earnings per share for the current fiscal year.

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.

Further Reading: When is a capital gain realized?

Analyst Recommendations for Farfetch (NYSE:FTCH)

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply