Zacks: Brokerages Anticipate Farfetch Ltd (FTCH) Will Post Quarterly Sales of $199.11 Million

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Analysts expect that Farfetch Ltd (NYSE:FTCH) will post $199.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Farfetch’s earnings, with the lowest sales estimate coming in at $190.34 million and the highest estimate coming in at $206.90 million. The business is scheduled to issue its next earnings report on Wednesday, August 21st.

On average, analysts expect that Farfetch will report full-year sales of $827.91 million for the current financial year, with estimates ranging from $803.65 million to $846.70 million. For the next financial year, analysts forecast that the company will report sales of $1.12 billion, with estimates ranging from $1.08 billion to $1.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Farfetch.

Farfetch (NYSE:FTCH) last announced its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.19). The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $171.06 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year.

FTCH has been the subject of several recent research reports. Zacks Investment Research downgraded Farfetch from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Goldman Sachs Group upgraded Farfetch from a “neutral” rating to a “buy” rating in a research note on Friday, March 1st. Oppenheimer initiated coverage on Farfetch in a research note on Monday, March 11th. They issued an “outperform” rating and a $34.00 price target for the company. Citigroup initiated coverage on Farfetch in a research note on Monday, March 11th. They issued an “outperform” rating and a $34.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on Farfetch in a research note on Tuesday, April 16th. They issued an “underperform” rating and a $23.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.20.

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock worth $103,000 after acquiring an additional 3,600 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Farfetch in the 4th quarter worth about $135,000. Pendal Group Ltd raised its position in Farfetch by 6.2% in the 4th quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock worth $195,000 after purchasing an additional 639 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Farfetch in the 4th quarter worth about $226,000. Finally, FNY Investment Advisers LLC purchased a new stake in Farfetch in the 1st quarter worth about $228,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Farfetch stock traded up $0.19 during midday trading on Wednesday, reaching $22.20. The stock had a trading volume of 3,616,803 shares, compared to its average volume of 2,202,998. Farfetch has a 1-year low of $15.98 and a 1-year high of $32.40. The firm has a market cap of $6.59 billion and a PE ratio of -37.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.86 and a current ratio of 4.57.

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 in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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