Farfetch’s (FTCH) Hold Rating Reaffirmed at China Renaissance Securities

China Renaissance Securities reissued their hold rating on shares of Farfetch (NYSE:FTCH) in a report released on Friday morning, The Fly reports.

A number of other research firms have also weighed in on FTCH. Zacks Investment Research raised shares of Farfetch from a sell rating to a hold rating in a research report on Tuesday, July 16th. Cowen dropped their price target on shares of Farfetch from $33.00 to $16.00 and set a buy rating on the stock in a research report on Friday. BTIG Research began coverage on shares of Farfetch in a research report on Tuesday, July 16th. They set a buy rating and a $26.00 price target on the stock. KeyCorp began coverage on shares of Farfetch in a research report on Wednesday, June 12th. They set an overweight rating and a $27.00 price target on the stock. Finally, Wells Fargo & Co set a $32.00 price target on shares of Farfetch and gave the company a buy rating in a research report on Wednesday, June 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $27.08.

Shares of FTCH traded down $8.12 during trading hours on Friday, reaching $10.13. 33,376,234 shares of the stock traded hands, compared to its average volume of 1,773,385. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $20.27. Farfetch has a 52 week low of $9.22 and a 52 week high of $32.40. The stock has a market cap of $5.21 billion and a P/E ratio of -17.17.

Farfetch (NYSE:FTCH) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The company had revenue of $209.30 million for the quarter, compared to the consensus estimate of $196.51 million. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. As a group, sell-side analysts expect that Farfetch will post -0.89 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in Farfetch by 0.6% in the fourth quarter. Northern Trust Corp now owns 110,022 shares of the company’s stock worth $1,948,000 after acquiring an additional 653 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Farfetch by 9,359.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock worth $73,000 after acquiring an additional 3,463 shares during the period. SeaTown Holdings Pte. Ltd. raised its position in Farfetch by 12.1% in the second quarter. SeaTown Holdings Pte. Ltd. now owns 74,000 shares of the company’s stock worth $1,539,000 after acquiring an additional 8,000 shares during the period. FNY Investment Advisers LLC bought a new stake in Farfetch in the first quarter worth about $228,000. Finally, Shikiar Asset Management Inc. bought a new stake in Farfetch in the first quarter worth about $242,000. 48.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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