Stitch Fix (NASDAQ:SFIX) Price Target Raised to $70.00

Stitch Fix (NASDAQ:SFIX) had its price objective upped by Robert W. Baird from $60.00 to $70.00 in a research report sent to investors on Tuesday, The Fly reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on the company. TheStreet cut Stitch Fix from a c rating to a d+ rating in a research note on Monday, March 8th. Piper Sandler raised their price target on shares of Stitch Fix from $47.00 to $55.00 and gave the stock a neutral rating in a research note on Tuesday. Zacks Investment Research raised shares of Stitch Fix from a sell rating to a hold rating and set a $42.00 price target for the company in a research note on Tuesday, May 11th. Truist raised their price target on shares of Stitch Fix from $52.00 to $60.00 in a research note on Tuesday, March 9th. Finally, BMO Capital Markets raised their price target on shares of Stitch Fix from $35.00 to $40.00 in a research note on Tuesday, March 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $88.30.

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

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Sunday, June 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, analysts anticipate that Stitch Fix will post -0.59 EPS for the current fiscal year.

In other Stitch Fix news, CEO Katrina Lake sold 43,774 shares of the firm’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $53.92, for a total transaction of $2,360,294.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Elizabeth Spaulding sold 6,340 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $66.72, for a total value of $423,004.80. Following the sale, the president now directly owns 238,949 shares of the company’s stock, valued at approximately $15,942,677.28. The disclosure for this sale can be found here. Insiders have sold a total of 434,093 shares of company stock valued at $21,090,607 in the last ninety days. Insiders own 45.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its holdings in Stitch Fix by 58.1% during the 1st quarter. Alliancebernstein L.P. now owns 137,380 shares of the company’s stock valued at $6,806,000 after purchasing an additional 50,510 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in Stitch Fix during the 1st quarter valued at $1,109,000. Scout Investments Inc. acquired a new stake in shares of Stitch Fix during the first quarter worth $13,393,000. New York State Common Retirement Fund lifted its holdings in shares of Stitch Fix by 5.8% during the fourth quarter. New York State Common Retirement Fund now owns 54,500 shares of the company’s stock worth $3,200,000 after buying an additional 3,000 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Stitch Fix by 7.6% during the first quarter. Swiss National Bank now owns 131,800 shares of the company’s stock worth $6,529,000 after buying an additional 9,300 shares in the last quarter. 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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