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 report released on Wednesday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.

SFIX has been the topic of several other research reports. Morgan Stanley increased their target price on shares of Stitch Fix from $25.00 to $27.00 and gave the company an underweight rating in a report on Tuesday, June 8th. Robert W. Baird increased their target price on shares of Stitch Fix from $60.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, June 8th. KeyCorp reduced their target price on shares of Stitch Fix from $75.00 to $70.00 and set an overweight rating on the stock in a report on Wednesday. Piper Sandler increased their target price on shares of Stitch Fix from $47.00 to $55.00 and gave the company a neutral rating in a report on Tuesday, June 8th. Finally, Wells Fargo & Company increased their target price on shares of Stitch Fix from $27.00 to $35.00 and gave the company an underweight rating in a report on Tuesday, June 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $83.11.

Stitch Fix stock opened at $43.73 on Wednesday. The firm’s fifty day moving average price is $44.32 and its 200-day moving average price is $49.51. The stock has a market cap of $4.68 billion, a P/E ratio of -59.90 and a beta of 1.97. Stitch Fix has a fifty-two week low of $25.21 and a fifty-two week high of $113.76.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Monday, September 20th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.31. The firm had revenue of $571.20 million for the quarter, compared to analysts’ expectations of $548.01 million. Stitch Fix had a negative net margin of 3.79% and a negative return on equity of 17.68%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.44) EPS. On average, equities research analysts forecast that Stitch Fix will post -0.43 EPS for the current year.

In other news, CEO Katrina Lake sold 43,774 shares of Stitch Fix stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $59.06, for a total transaction of $2,585,292.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marka Hansen sold 10,000 shares of Stitch Fix 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 sale, the director now directly owns 10,000 shares in the company, valued at approximately $478,300. The disclosure for this sale can be found here. Insiders have sold a total of 236,037 shares of company stock worth $10,595,032 in the last ninety days. Insiders own 45.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC lifted its position in Stitch Fix by 22.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,907 shares of the company’s stock valued at $4,517,000 after acquiring an additional 13,803 shares during the period. Marshall Wace LLP lifted its position in Stitch Fix by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 242,184 shares of the company’s stock valued at $14,603,000 after acquiring an additional 80,227 shares during the period. Marshall Wace North America L.P. purchased a new position in Stitch Fix during the 2nd quarter valued at about $6,692,000. Morgan Stanley lifted its position in Stitch Fix by 23.8% during the 2nd quarter. Morgan Stanley now owns 4,816,101 shares of the company’s stock valued at $290,411,000 after acquiring an additional 924,886 shares during the period. Finally, Bradley Foster & Sargent Inc. CT purchased a new position in Stitch Fix during the 2nd quarter valued at about $956,000. 61.11% of the stock is owned by institutional investors.

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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