Stitch Fix (NASDAQ:SFIX) Posts Earnings Results, Beats Expectations By $0.04 EPS

Stitch Fix (NASDAQ:SFIX) posted its quarterly earnings data on Wednesday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04, FiscalAI reports. The firm had revenue of $324.42 million for the quarter, compared to analysts’ expectations of $325.50 million. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.

Stitch Fix Stock Performance

Shares of SFIX stock traded down $0.17 during midday trading on Wednesday, reaching $2.82. 6,762,642 shares of the company were exchanged, compared to its average volume of 1,983,039. Stitch Fix has a 12 month low of $2.76 and a 12 month high of $5.74. The company’s 50 day moving average price is $3.46 and its two-hundred day moving average price is $3.53. The company has a market cap of $376.27 million, a P/E ratio of -35.25 and a beta of 2.27.

Insiders Place Their Bets

In related news, insider Anthony Bacos sold 70,011 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $4.42, for a total transaction of $309,448.62. Following the transaction, the insider directly owned 1,051,994 shares of the company’s stock, valued at approximately $4,649,813.48. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 67,960 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $3.79, for a total transaction of $257,568.40. Following the transaction, the chief financial officer directly owned 1,102,369 shares in the company, valued at approximately $4,177,978.51. The trade was a 5.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 487,971 shares of company stock worth $1,900,517 in the last quarter. 16.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings raised Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. UBS Group reduced their target price on shares of Stitch Fix from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, September 2nd. Finally, Northland Securities started coverage on shares of Stitch Fix in a report on Thursday, May 28th. They set an “outperform” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Stitch Fix currently has a consensus rating of “Hold” and a consensus price target of $5.00.

About Stitch Fix

Stitch Fix, Inc is an online personal styling company that uses data science, personalization technology and human stylists to recommend apparel and accessories to customers. Its offerings include clothing, shoes and accessories across categories such as women’s, men’s and children’s apparel, with selections tailored to individual preferences, sizes, budgets and lifestyles.

The company’s primary service, traditionally known as a “Fix,” delivers a curated selection of items for customers to try at home, after which they can purchase the items they want and return the rest.