Stitch Fix (NASDAQ:SFIX) Price Target Cut to $37.00 by Analysts at Barclays

Stitch Fix (NASDAQ:SFIX) had its target price decreased by Barclays from $59.00 to $37.00 in a research note published on Wednesday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.

SFIX has been the subject of a number of other reports. TheStreet upgraded shares of Stitch Fix from a d+ rating to a c rating in a research report on Monday, June 28th. Robert W. Baird boosted their price objective on shares of Stitch Fix from $60.00 to $70.00 and gave the company a neutral rating in a research report on Tuesday, June 8th. Piper Sandler boosted their price objective on shares of Stitch Fix from $47.00 to $55.00 and gave the company a neutral rating in a research report on Tuesday, June 8th. Wells Fargo & Company boosted their price objective on shares of Stitch Fix from $27.00 to $35.00 and gave the company an underweight rating in a research report on Tuesday, June 8th. Finally, KeyCorp lowered their price objective on shares of Stitch Fix from $75.00 to $70.00 and set an overweight rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Stitch Fix presently has an average rating of Hold and a consensus target price of $83.11.

NASDAQ SFIX opened at $43.73 on Wednesday. Stitch Fix has a 1-year low of $25.21 and a 1-year high of $113.76. The company has a 50 day moving average of $44.32 and a 200-day moving average of $49.51. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -59.90 and a beta of 1.97.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Monday, September 20th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.31. Stitch Fix had a negative net margin of 3.79% and a negative return on equity of 17.68%. The company had revenue of $571.20 million during the quarter, compared to the consensus estimate of $548.01 million. During the same period in the previous year, the business earned ($0.44) earnings per share. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts predict that Stitch Fix will post -0.43 earnings per share for the current year.

In related news, CEO Katrina Lake sold 43,774 shares of the business’s stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $59.06, for a total value of $2,585,292.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marka Hansen sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $47.83, for a total transaction of $478,300.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $478,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,037 shares of company stock worth $10,595,032. 45.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Working Capital Advisors UK Ltd. raised its holdings in shares of Stitch Fix by 27.8% in the 2nd quarter. Working Capital Advisors UK Ltd. now owns 6,139,609 shares of the company’s stock worth $370,218,000 after acquiring an additional 1,336,989 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Stitch Fix by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,008,259 shares of the company’s stock worth $362,298,000 after acquiring an additional 508,853 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Stitch Fix by 5.9% in the 2nd quarter. Baillie Gifford & Co. now owns 5,997,845 shares of the company’s stock worth $361,670,000 after acquiring an additional 331,758 shares during the last quarter. Morgan Stanley raised its holdings in shares of Stitch Fix by 23.8% in the 2nd quarter. Morgan Stanley now owns 4,816,101 shares of the company’s stock worth $290,411,000 after acquiring an additional 924,886 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Stitch Fix by 4.0% in the 1st quarter. BlackRock Inc. now owns 4,524,293 shares of the company’s stock worth $224,133,000 after acquiring an additional 172,531 shares during the last quarter. Hedge funds and other institutional investors own 61.11% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc is an online personal styling service that delivers personalized fixes of apparel and accessories to men, women and kids. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.

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