Farfetch (NYSE:FTCH) Shares Gap Up to $11.40

Shares of Farfetch Ltd (NYSE:FTCH) gapped up before the market opened on Tuesday . The stock had previously closed at $11.90, but opened at $11.40. Farfetch shares last traded at $12.16, with a volume of 5,575,536 shares changing hands.

FTCH has been the topic of several research analyst reports. Zacks Investment Research upgraded Farfetch from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. China Renaissance Securities reiterated a “hold” rating on shares of Farfetch in a research report on Friday. Cowen lowered their price target on Farfetch from $33.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. BTIG Research initiated coverage on Farfetch in a research report on Tuesday, July 16th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a research report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Farfetch presently has an average rating of “Buy” and an average price target of $25.17.

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.57 and a quick ratio of 4.22. The company has a market cap of $3.04 billion and a price-to-earnings ratio of -20.34. The firm has a fifty day simple moving average of $19.40.

Farfetch (NYSE:FTCH) last issued its earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). The business had revenue of $209.30 million during the quarter, compared to analyst estimates of $196.51 million. Farfetch had a negative return on equity of 25.09% and a negative net margin of 40.23%. The firm’s revenue was up 42.7% compared to the same quarter last year. As a group, sell-side analysts predict that Farfetch Ltd will post -0.89 earnings per share for the current year.

Several institutional investors have recently modified their holdings of FTCH. Mirova acquired a new stake in shares of Farfetch in the second quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Farfetch by 9,359.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after purchasing an additional 3,463 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Farfetch during the second quarter valued at $154,000. Community Capital Management Inc. acquired a new stake in Farfetch during the second quarter valued at $208,000. Finally, FNY Investment Advisers LLC acquired a new stake in Farfetch during the first quarter valued at $228,000. 50.06% of the stock is owned by institutional investors and hedge funds.

Farfetch Company Profile (NYSE:FTCH)

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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