Stitch Fix (NASDAQ:SFIX) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Stitch Fix (NASDAQ:SFIX) announced its quarterly earnings results on Monday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01, Briefing.com reports. The firm had revenue of $296.00 million for the quarter, compared to analyst estimates of $291.29 million. Stitch Fix’s revenue for the quarter was up 24.4% compared to the same quarter last year.

NASDAQ:SFIX traded up $0.17 on Thursday, hitting $21.32. 254,573 shares of the company’s stock traded hands, compared to its average volume of 548,443. Stitch Fix has a 1 year low of $14.48 and a 1 year high of $30.07.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Stitch Fix from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, December 20th. Piper Jaffray set a $29.00 price objective on shares of Stitch Fix and gave the company a “buy” rating in a research note on Wednesday, December 20th. Royal Bank of Canada started coverage on shares of Stitch Fix in a research note on Tuesday, December 12th. They set an “outperform” rating and a $29.00 price objective on the stock. William Blair began coverage on shares of Stitch Fix in a research report on Tuesday, December 12th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase began coverage on Stitch Fix in a research note on Tuesday, December 12th. They issued a “neutral” rating and a $25.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Stitch Fix currently has an average rating of “Hold” and a consensus target price of $25.57.

In related news, Director Marka Hansen sold 14,700 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $21.41, for a total value of $314,727.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katrina Lake sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $19.96, for a total value of $3,992,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,750 shares of company stock worth $6,608,224.

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About Stitch Fix

Stitch Fix, Inc is an online personalized styling service company. The Company offers apparel, shoes and accessories across categories, brands, product types and price points. The Company serves its clients in the following categories: Women’s, Petite, Maternity, Men’s and Plus. The Company also offers a wide variety of product types, including denim, dresses, blouses, skirts, shoes, jewelry and handbags.

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