Stitch Fix (NASDAQ:SFIX) Lifted to “Buy” at Goldman Sachs Group

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Stitch Fix (NASDAQ:SFIX) was upgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $38.00 target price on the stock. Goldman Sachs Group’s price target suggests a potential upside of 37.43% from the stock’s previous close.

A number of other brokerages have also recently commented on SFIX. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. TheStreet upgraded shares of Stitch Fix from a “d” rating to a “c-” rating in a report on Wednesday, June 26th. Royal Bank of Canada dropped their target price on shares of Stitch Fix from $52.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, JPMorgan Chase & Co. set a €49.00 ($56.98) target price on shares of Deutsche Wohnen and gave the company a “buy” rating in a report on Thursday, June 6th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Stitch Fix presently has a consensus rating of “Hold” and an average target price of $35.40.

Shares of Stitch Fix stock opened at $27.65 on Friday. The firm’s fifty day moving average is $28.43. The stock has a market cap of $2.84 billion, a P/E ratio of 70.90, a P/E/G ratio of 3.87 and a beta of 3.24. Stitch Fix has a 12-month low of $16.05 and a 12-month high of $52.44.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.10. The business had revenue of $409.00 million for the quarter, compared to the consensus estimate of $395.06 million. Stitch Fix had a net margin of 3.27% and a return on equity of 13.77%. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts predict that Stitch Fix will post 0.32 earnings per share for the current fiscal year.

In related news, Director Marka Hansen sold 23,125 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $30.52, for a total value of $705,775.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $26.18, for a total transaction of $2,618,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,042,037 shares of company stock worth $29,750,017. Company insiders own 56.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in Stitch Fix by 1.1% during the 1st quarter. Baillie Gifford & Co. now owns 3,639,129 shares of the company’s stock valued at $102,733,000 after acquiring an additional 38,998 shares during the period. Jackson Square Partners LLC lifted its stake in Stitch Fix by 26.8% during the 1st quarter. Jackson Square Partners LLC now owns 3,399,181 shares of the company’s stock valued at $95,958,000 after acquiring an additional 719,063 shares during the period. Park West Asset Management LLC bought a new position in Stitch Fix during the 4th quarter valued at about $30,016,000. Macquarie Group Ltd. bought a new position in Stitch Fix during the 4th quarter valued at about $8,467,000. Finally, BlackRock Inc. lifted its stake in Stitch Fix by 54.7% during the 4th quarter. BlackRock Inc. now owns 381,752 shares of the company’s stock valued at $6,525,000 after acquiring an additional 134,984 shares during the period. Institutional investors own 29.24% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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