Research Analysts Set Expectations for Stitch Fix, Inc.’s FY2023 Earnings (NASDAQ:SFIX)

Stitch Fix, Inc. (NASDAQ:SFIX) – Research analysts at KeyCorp issued their FY2023 earnings estimates for shares of Stitch Fix in a report released on Tuesday, September 21st. KeyCorp analyst E. Yruma anticipates that the company will post earnings per share of ($0.40) for the year. KeyCorp has a “Overweight” rating and a $70.00 price objective on the stock.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, September 20th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.31. Stitch Fix had a negative return on equity of 17.68% and a negative net margin of 3.79%. The company had revenue of $571.20 million for the quarter, compared to analyst estimates of $548.01 million. During the same period in the prior year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year.

A number of other research analysts have also weighed in on SFIX. Stifel Nicolaus cut their price objective on Stitch Fix from $70.00 to $46.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler cut their price objective on Stitch Fix from $55.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday. Canaccord Genuity cut their price objective on Stitch Fix from $76.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their target price on Stitch Fix from $27.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 8th. Finally, Truist Securities lowered their target price on Stitch Fix from $77.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.11.

Shares of NASDAQ:SFIX opened at $41.28 on Thursday. The business’s 50-day moving average is $44.76 and its 200 day moving average is $49.73. Stitch Fix has a 1 year low of $25.19 and a 1 year high of $113.76. The firm has a market capitalization of $4.42 billion, a P/E ratio of -56.55 and a beta of 1.97.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC grew its stake in shares of Stitch Fix by 22.6% in the second quarter. Parametric Portfolio Associates LLC now owns 74,907 shares of the company’s stock valued at $4,517,000 after buying an additional 13,803 shares in the last quarter. Marshall Wace LLP boosted its holdings in Stitch Fix by 49.5% in the second quarter. Marshall Wace LLP now owns 242,184 shares of the company’s stock valued at $14,603,000 after purchasing an additional 80,227 shares during the period. Marshall Wace North America L.P. purchased a new position in Stitch Fix in the second quarter valued at $6,692,000. Morgan Stanley boosted its holdings in Stitch Fix by 23.8% in the second quarter. Morgan Stanley now owns 4,816,101 shares of the company’s stock valued at $290,411,000 after purchasing an additional 924,886 shares during the period. Finally, Bradley Foster & Sargent Inc. CT purchased a new position in Stitch Fix in the second quarter valued at $956,000. 61.11% of the stock is owned by institutional investors and hedge funds.

In other Stitch Fix news, CEO Katrina Lake sold 43,774 shares of the firm’s stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $59.06, for a total transaction of $2,585,292.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marka Hansen sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $47.83, for a total value of $478,300.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $478,300. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,037 shares of company stock valued at $10,595,032. Insiders own 45.10% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc is an online personal styling service that delivers personalized fixes of apparel and accessories to men, women and kids. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for Stitch Fix (NASDAQ:SFIX)

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