Farfetch (NYSE:FTCH) released its earnings results on Thursday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), Briefing.com reports. The business had revenue of $132.18 million during the quarter, compared to analysts’ expectations of $114.49 million. Farfetch’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS.

Shares of NYSE:FTCH opened at $23.27 on Friday. Farfetch has a 12-month low of $18.39 and a 12-month high of $32.40.

A number of equities research analysts have weighed in on FTCH shares. Goldman Sachs Group started coverage on Farfetch in a research report on Tuesday, October 16th. They issued a “neutral” rating and a $24.00 target price for the company. BNP Paribas started coverage on Farfetch in a research report on Friday, October 19th. They issued a “neutral” rating and a $24.00 target price for the company. JPMorgan Chase & Co. started coverage on Farfetch in a research report on Tuesday, October 16th. They issued an “overweight” rating and a $27.00 target price for the company. Deutsche Bank started coverage on Farfetch in a research report on Tuesday, October 16th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Cowen started coverage on Farfetch in a research report on Tuesday, October 16th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $27.00.

A number of large investors have recently made changes to their positions in FTCH. Massachusetts Financial Services Co. MA acquired a new stake in Farfetch during the 3rd quarter valued at $8,093,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Farfetch in the third quarter worth $67,105,000. Wells Fargo & Company MN acquired a new position in shares of Farfetch in the third quarter worth $33,245,000. Thornburg Investment Management Inc. acquired a new position in shares of Farfetch in the third quarter worth $6,560,000. Finally, Pendal Group Ltd acquired a new position in shares of Farfetch in the third quarter worth $282,000. 0.10% of the stock is currently owned by institutional investors.

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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 on May 15, 2018 and is headquartered in London, the United Kingdom.

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