Farfetch Ltd (NYSE:FTCH)’s share price was up 7.3% on Wednesday . The stock traded as high as $10.49 and last traded at $9.95, approximately 7,188,469 shares traded hands during trading. An increase of 158% from the average daily volume of 2,784,542 shares. The stock had previously closed at $9.27.

A number of equities research analysts have recently issued reports on the company. Bank of America dropped their price target on Farfetch from $33.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. KeyCorp initiated coverage on Farfetch in a research report on Wednesday, June 12th. They set an “overweight” rating and a $27.00 price objective on the stock. BTIG Research assumed coverage on Farfetch in a research report on Tuesday, July 16th. They set a “buy” rating and a $26.00 price objective on the stock. Oppenheimer dropped their target price on Farfetch from $32.00 to $25.00 in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised Farfetch from an “underperform” rating to a “market perform” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Farfetch presently has an average rating of “Buy” and an average target price of $24.23.

The company has a market capitalization of $2.75 billion and a PE ratio of -16.86. The company has a quick ratio of 2.91, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $13.30 and a two-hundred day moving average of $20.97.

Farfetch (NYSE:FTCH) last posted its earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.09). Farfetch had a negative net margin of 40.23% and a negative return on equity of 25.53%. The business had revenue of $209.30 million during the quarter, compared to analysts’ expectations of $196.51 million. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. On average, equities research analysts expect that Farfetch Ltd will post -1.18 EPS for the current year.

Large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Farfetch in the 2nd quarter valued at approximately $37,000. Mirova purchased a new position in shares of Farfetch during the second quarter worth $53,000. Royal Bank of Canada boosted its position in shares of Farfetch by 7,657.5% during the second quarter. Royal Bank of Canada now owns 3,103 shares of the company’s stock worth $64,000 after buying an additional 3,063 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Farfetch by 9,359.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,500 shares of the company’s stock valued at $73,000 after buying an additional 3,463 shares in the last quarter. Finally, O Shares Investment Advisers LLC grew its stake in shares of Farfetch by 18.3% in the second quarter. O Shares Investment Advisers LLC now owns 27,030 shares of the company’s stock valued at $562,000 after buying an additional 4,182 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Farfetch Company Profile (NYSE:FTCH)

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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