Farfetch Ltd (FTCH) Receives Consensus Recommendation of “Buy” from Brokerages

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Farfetch Ltd (NYSE:FTCH) has been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.00.

FTCH has been the topic of several analyst reports. Zacks Investment Research raised shares of Farfetch from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Wells Fargo & Co initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set an “outperform” rating and a $30.00 price target on the stock. UBS Group initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set a “buy” rating on the stock. Credit Suisse Group initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Farfetch in a research note on Friday, November 9th.

Shares of NYSE:FTCH traded up $0.49 on Thursday, reaching $20.15. 398,304 shares of the company were exchanged, compared to its average volume of 650,467. Farfetch has a 1-year low of $15.98 and a 1-year high of $32.40.

Farfetch (NYSE:FTCH) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.08). The firm had revenue of $132.18 million for the quarter, compared to analyst estimates of $114.49 million. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. As a group, equities research analysts expect that Farfetch will post -0.65 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of FTCH. Pendal Group Ltd raised its stake in shares of Farfetch by 6.2% during the fourth quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock valued at $195,000 after purchasing an additional 639 shares during the period. Federated Investors Inc. PA purchased a new stake in shares of Farfetch during the third quarter valued at approximately $82,000. Blueport Capital L.P. purchased a new stake in shares of Farfetch during the third quarter valued at approximately $120,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Farfetch during the third quarter valued at approximately $238,000. Finally, Shikiar Asset Management Inc. purchased a new stake in shares of Farfetch during the third quarter valued at approximately $436,000. Hedge funds and other institutional investors own 31.24% of the company’s stock.

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 on May 15, 2018 and is headquartered in London, the United Kingdom.

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Analyst Recommendations for Farfetch (NYSE:FTCH)

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