Farfetch (NYSE:FTCH) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Farfetch (NYSE:FTCHGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04, MarketWatch Earnings reports. The company had revenue of $514.80 million for the quarter, compared to the consensus estimate of $560.27 million. Farfetch had a net margin of 64.79% and a negative return on equity of 331.09%. Farfetch’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS.

Shares of FTCH stock opened at $9.73 on Friday. The stock’s 50-day simple moving average is $11.97 and its 200-day simple moving average is $21.32. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -9.09 and a beta of 3.13. Farfetch has a fifty-two week low of $6.53 and a fifty-two week high of $53.77. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.05 and a current ratio of 2.33.

Several equities analysts have recently weighed in on the stock. Oppenheimer lowered their price objective on shares of Farfetch from $32.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, April 1st. BTIG Research decreased their target price on shares of Farfetch from $26.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on shares of Farfetch from $35.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday. Societe Generale upgraded shares of Farfetch from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Friday, March 25th. They noted that the move was a valuation call. Finally, UBS Group reduced their price objective on shares of Farfetch from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. UBS analyst Kunal Madhukar lowered the price target on Farfetch (NYSE: FTCH) to $14.00 (from $19.00) while maintaining a Buy rating. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $29.47.

Several hedge funds have recently made changes to their positions in FTCH. EverSource Wealth Advisors LLC purchased a new position in shares of Farfetch during the 4th quarter worth $31,000. Captrust Financial Advisors raised its position in shares of Farfetch by 31.8% during the 1st quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock worth $75,000 after acquiring an additional 1,204 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Farfetch by 94.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,848 shares of the company’s stock worth $194,000 after acquiring an additional 6,253 shares in the last quarter. Boston Private Wealth LLC acquired a new stake in shares of Farfetch during the 4th quarter worth about $210,000. Finally, Bridgefront Capital LLC acquired a new position in Farfetch during the first quarter worth approximately $220,000. 81.36% of the stock is owned by institutional investors and hedge funds.

Farfetch Company Profile (Get Rating)

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.

Further Reading

Earnings History for Farfetch (NYSE:FTCH)

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