Farfetch Ltd (NYSE:FTCH) Expected to Post Quarterly Sales of $335.35 Million

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Equities analysts predict that Farfetch Ltd (NYSE:FTCH) will post sales of $335.35 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Farfetch’s earnings, with the highest sales estimate coming in at $344.41 million and the lowest estimate coming in at $311.40 million. Farfetch reported sales of $195.53 million during the same quarter last year, which indicates a positive year-over-year growth rate of 71.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 27th.

On average, analysts expect that Farfetch will report full year sales of $974.16 million for the current financial year, with estimates ranging from $950.20 million to $983.22 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.53 billion, with estimates ranging from $1.46 billion to $1.56 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Farfetch.

Farfetch (NYSE:FTCH) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. Farfetch had a negative net margin of 35.84% and a negative return on equity of 25.14%. The firm had revenue of $255.50 million during the quarter, compared to analysts’ expectations of $248.31 million. During the same period in the previous year, the business posted ($0.30) earnings per share. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year.

Several analysts recently commented on FTCH shares. Oppenheimer reduced their target price on shares of Farfetch from $32.00 to $25.00 in a report on Wednesday, August 14th. Bank of America lowered their price target on shares of Farfetch from $33.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. ValuEngine upgraded shares of Farfetch from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group restated a “buy” rating and set a $21.40 price objective (down previously from $37.00) on shares of Farfetch in a report on Monday, November 4th. Finally, Zacks Investment Research raised Farfetch from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $22.14.

A number of institutional investors have recently modified their holdings of FTCH. Ladenburg Thalmann Financial Services Inc. bought a new position in Farfetch during the 2nd quarter worth $37,000. Mirova acquired a new position in Farfetch in the 2nd quarter valued at $53,000. Royal Bank of Canada lifted its position in shares of Farfetch by 7,657.5% during the 2nd quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock valued at $64,000 after acquiring an additional 3,063 shares during the period. Edge Wealth Management LLC bought a new stake in shares of Farfetch during the 3rd quarter valued at $43,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Farfetch during the 2nd quarter worth $154,000. Institutional investors and hedge funds own 63.71% of the company’s stock.

Shares of FTCH traded down $0.04 during trading hours on Friday, hitting $9.51. The company had a trading volume of 1,842,000 shares, compared to its average volume of 3,048,927. The business has a fifty day moving average of $9.06 and a 200-day moving average of $13.75. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -16.12 and a beta of 2.59. Farfetch has a 12 month low of $7.43 and a 12 month high of $31.60.

Farfetch Company Profile

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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