Zacks: Analysts Anticipate Farfetch Ltd (FTCH) Will Post Quarterly Sales of $180.44 Million

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Equities analysts expect Farfetch Ltd (NYSE:FTCH) to announce $180.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Farfetch’s earnings, with the highest sales estimate coming in at $184.10 million and the lowest estimate coming in at $176.78 million. The firm is expected to issue its next quarterly earnings report on Thursday, February 14th.

On average, analysts expect that Farfetch will report full-year sales of $580.13 million for the current fiscal year, with estimates ranging from $576.47 million to $583.80 million. For the next year, analysts anticipate that the firm will report sales of $762.13 million, with estimates ranging from $756.00 million to $772.16 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Farfetch.

Farfetch (NYSE:FTCH) last released its earnings results on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $132.18 million during the quarter, compared to analyst estimates of $114.49 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 52.1% on a year-over-year basis.

Several brokerages recently issued reports on FTCH. ValuEngine cut Farfetch from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Cowen restated a “buy” rating and set a $28.00 price target on shares of Farfetch in a research note on Friday, November 9th. BNP Paribas started coverage on shares of Farfetch in a research note on Friday, October 19th. They set a “neutral” rating and a $24.00 price target for the company. Deutsche Bank started coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set a “buy” rating and a $28.00 price target for the company. Finally, Credit Suisse Group started coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set an “outperform” rating and a $28.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $27.00.

Shares of FTCH stock traded down $0.22 during midday trading on Wednesday, hitting $22.11. The company had a trading volume of 624,981 shares, compared to its average volume of 695,540. Farfetch has a 52-week low of $18.39 and a 52-week high of $32.40.

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in Farfetch during the 3rd quarter worth about $123,826,000. FMR LLC bought a new stake in shares of Farfetch in the 3rd quarter worth approximately $99,189,000. Morgan Stanley bought a new stake in shares of Farfetch in the 3rd quarter worth approximately $86,369,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Farfetch in the 3rd quarter worth approximately $67,105,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Farfetch in the 3rd quarter worth approximately $64,657,000. Institutional investors own 31.24% of the company’s stock.

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.

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