Wells Fargo & Company Raises Stitch Fix (NASDAQ:SFIX) Price Target to $35.00

Stitch Fix (NASDAQ:SFIX) had its price target upped by Wells Fargo & Company from $27.00 to $35.00 in a research note issued to investors on Tuesday, The Fly reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research analysts have also recently issued reports on the company. KeyCorp lowered their price objective on Stitch Fix to $75.00 and set an overweight rating for the company in a research note on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a $54.00 price objective on shares of Stitch Fix in a research note on Monday, March 15th. Needham & Company LLC boosted their price target on Stitch Fix from $55.00 to $60.00 and gave the stock a buy rating in a research note on Tuesday, March 9th. TheStreet cut Stitch Fix from a c rating to a d+ rating in a research note on Monday, March 8th. Finally, Morgan Stanley boosted their price target on Stitch Fix from $25.00 to $27.00 and gave the stock an underweight rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Stitch Fix has an average rating of Hold and an average price target of $88.30.

SFIX opened at $63.03 on Tuesday. The company has a 50 day moving average price of $48.31. The stock has a market cap of $6.70 billion, a PE ratio of -71.63 and a beta of 2.04. Stitch Fix has a 52 week low of $21.60 and a 52 week high of $113.76.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Sunday, June 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.09. Stitch Fix had a negative return on equity of 21.32% and a negative net margin of 4.97%. Equities analysts expect that Stitch Fix will post -0.59 EPS for the current fiscal year.

In other Stitch Fix news, insider Scott Darling sold 4,177 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $51.68, for a total transaction of $215,867.36. Following the completion of the sale, the insider now owns 57,226 shares of the company’s stock, valued at $2,957,439.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katrina Lake sold 136,366 shares of the business’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $53.19, for a total value of $7,253,307.54. The disclosure for this sale can be found here. Insiders sold 434,093 shares of company stock valued at $21,090,607 in the last ninety days. 45.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. bought a new stake in Stitch Fix during the fourth quarter valued at about $44,000. Invictus RG purchased a new position in shares of Stitch Fix in the fourth quarter valued at about $58,000. Burleson & Company LLC purchased a new position in shares of Stitch Fix in the first quarter valued at about $50,000. Financial Avengers Inc. purchased a new position in shares of Stitch Fix in the fourth quarter valued at about $100,000. Finally, Truvestments Capital LLC purchased a new position in shares of Stitch Fix in the fourth quarter valued at about $126,000. 54.58% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application 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.

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