MYT Netherlands Parent B.V. (NYSE:MYTE) Price Target Raised to $43.00 at Credit Suisse Group

MYT Netherlands Parent B.V. (NYSE:MYTE) had its price objective boosted by equities researchers at Credit Suisse Group from $35.00 to $43.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 63.68% from the company’s previous close.

A number of other brokerages have also recently weighed in on MYTE. Zacks Investment Research cut shares of MYT Netherlands Parent B.V. from a “hold” rating to a “sell” rating in a report on Friday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of MYT Netherlands Parent B.V. from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, May 24th. Finally, Morgan Stanley reduced their price objective on shares of MYT Netherlands Parent B.V. from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, MYT Netherlands Parent B.V. currently has a consensus rating of “Buy” and an average price target of $38.43.

MYTE stock opened at $26.27 on Wednesday. MYT Netherlands Parent B.V. has a 1 year low of $24.94 and a 1 year high of $36.25. The stock has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $29.57. The company has a current ratio of 3.65, a quick ratio of 0.92 and a debt-to-equity ratio of 0.03.

Several hedge funds and other institutional investors have recently bought and sold shares of MYTE. Royal Bank of Canada increased its holdings in MYT Netherlands Parent B.V. by 34.8% in the second quarter. Royal Bank of Canada now owns 7,500 shares of the company’s stock valued at $228,000 after purchasing an additional 1,937 shares during the last quarter. Morgan Stanley boosted its position in shares of MYT Netherlands Parent B.V. by 24.1% during the second quarter. Morgan Stanley now owns 18,791 shares of the company’s stock worth $572,000 after buying an additional 3,649 shares during the period. Advisor Group Holdings Inc. boosted its position in MYT Netherlands Parent B.V. by 116.7% during the second quarter. Advisor Group Holdings Inc. now owns 8,791 shares of the company’s stock valued at $268,000 after purchasing an additional 4,734 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in MYT Netherlands Parent B.V. during the first quarter valued at approximately $141,000. Finally, LPL Financial LLC acquired a new position in MYT Netherlands Parent B.V. during the second quarter valued at approximately $211,000. 21.63% of the stock is owned by institutional investors.

About MYT Netherlands Parent B.V.

MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for the fashion consumers worldwide. The company sells clothes, bags, shoes, accessories, and fine jewelry through online operations and retail stores. It serves high income luxury consumers.

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