Farfetch (NYSE:FTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

Other equities research analysts have also issued research reports about the company. Wells Fargo & Co set a $32.00 target price on Farfetch and gave the company a “buy” rating in a research note on Wednesday, June 12th. KeyCorp lowered their price objective on FedEx from $215.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Sanford C. Bernstein upgraded Farfetch from an “underperform” rating to a “market perform” rating in a research report on Friday, June 7th. Oppenheimer began coverage on Farfetch in a report on Monday, March 11th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Citigroup dropped their price target on Hasbro from $106.00 to $103.00 and set a “buy” rating on the stock in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $28.27.

NYSE FTCH traded down $0.04 during trading on Tuesday, reaching $19.79. The company’s stock had a trading volume of 1,249,751 shares, compared to its average volume of 2,431,423. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.95 billion and a price-to-earnings ratio of -33.54. Farfetch has a twelve month low of $15.98 and a twelve month high of $32.40. The business’s fifty day moving average is $20.89.

Farfetch (NYSE:FTCH) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.19). The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $171.06 million. During the same quarter last year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts predict that Farfetch will post -0.89 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in FTCH. Pier Capital LLC purchased a new stake in shares of Farfetch during the 1st quarter worth approximately $494,000. OZ Management LP purchased a new position in Farfetch in the 1st quarter worth $6,728,000. Vitruvian Partners LLP purchased a new position in shares of Farfetch in the fourth quarter valued at about $389,905,000. Zweig DiMenna Associates LLC purchased a new position in shares of Farfetch during the first quarter valued at about $1,480,000. Finally, California Public Employees Retirement System purchased a new position in shares of Farfetch during the fourth quarter valued at about $238,000. 48.31% of the stock is currently owned by institutional investors and hedge funds.

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

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