Analysts at Evercore ISI initiated coverage on shares of Stitch Fix (NASDAQ:SFIX) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “outperform” rating and a $78.00 price target on the stock. Evercore ISI’s target price suggests a potential upside of 52.73% from the stock’s previous close.

A number of other analysts have also recently weighed in on SFIX. Zacks Investment Research upgraded shares of Stitch Fix from a “sell” rating to a “hold” rating and set a $38.00 target price for the company in a report on Tuesday, December 8th. Barclays raised their target price on shares of Stitch Fix from $32.00 to $35.00 in a report on Tuesday, December 8th. The Goldman Sachs Group raised their target price on shares of Stitch Fix from $34.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $54.00 target price on shares of Stitch Fix in a report on Monday, March 15th. Finally, Telsey Advisory Group lifted their price objective on shares of Stitch Fix from $54.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.61.

NASDAQ SFIX opened at $51.07 on Tuesday. Stitch Fix has a 12 month low of $13.20 and a 12 month high of $113.76. The firm has a market capitalization of $5.43 billion, a PE ratio of -89.60 and a beta of 2.46. The company’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $54.64.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Sunday, March 7th. The company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.02. The firm had revenue of $504.10 million during the quarter, compared to analysts’ expectations of $512.17 million. Stitch Fix had a negative net margin of 3.27% and a negative return on equity of 13.58%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Analysts forecast that Stitch Fix will post -0.25 EPS for the current year.

In other news, Director Marka Hansen sold 10,000 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $48.70, for a total transaction of $487,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $487,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katrina Lake sold 136,366 shares of the firm’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $53.19, for a total transaction of $7,253,307.54. The disclosure for this sale can be found here. Insiders have sold a total of 331,869 shares of company stock worth $20,693,730 in the last 90 days. 45.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. GoalVest Advisory LLC bought a new position in Stitch Fix in the 4th quarter worth $37,000. Salem Investment Counselors Inc. bought a new position in Stitch Fix in the 4th quarter worth $44,000. Perigon Wealth Management LLC bought a new position in Stitch Fix in the 4th quarter worth $47,000. International Assets Investment Management LLC bought a new position in Stitch Fix in the 4th quarter worth $55,000. Finally, Invictus RG bought a new position in Stitch Fix in the 4th quarter worth $58,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About Stitch Fix

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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The Fly

Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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