Citigroup began coverage on shares of Farfetch (NYSE:FTCH) in a research note published on Monday morning, The Fly reports. The firm issued an outperform rating and a $34.00 price objective on the stock.

A number of other brokerages have also issued reports on FTCH. Zacks Investment Research lowered Farfetch from a hold rating to a sell rating in a research report on Tuesday, December 18th. ValuEngine lowered Farfetch from a buy rating to a hold rating in a research report on Tuesday, November 20th. Finally, Goldman Sachs Group upgraded Farfetch from a neutral rating to a buy rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Farfetch has a consensus rating of Buy and a consensus target price of $28.56.

NYSE:FTCH opened at $27.26 on Monday. Farfetch has a 12-month low of $15.98 and a 12-month high of $32.40. The company has a market cap of $8.01 billion and a P/E ratio of -46.20.

A number of hedge funds have recently made changes to their positions in the business. Pendal Group Ltd boosted its position in Farfetch by 6.2% during the 4th quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock worth $195,000 after acquiring an additional 639 shares during the period. Northern Trust Corp boosted its position in Farfetch by 0.6% during the 4th quarter. Northern Trust Corp now owns 110,022 shares of the company’s stock worth $1,948,000 after acquiring an additional 653 shares during the period. Foxhaven Asset Management LP boosted its position in Farfetch by 0.6% during the 4th quarter. Foxhaven Asset Management LP now owns 130,315 shares of the company’s stock worth $2,308,000 after acquiring an additional 800 shares during the period. Federated Investors Inc. PA acquired a new position in Farfetch during the 3rd quarter worth $82,000. Finally, Barclays PLC boosted its position in Farfetch by 163.6% during the 4th quarter. Barclays PLC now owns 5,800 shares of the company’s stock worth $103,000 after acquiring an additional 3,600 shares during the period. Institutional investors own 42.55% 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 in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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Analyst Recommendations for Farfetch (NYSE:FTCH)

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