Farfetch (NYSE:FTCH) Given New $23.00 Price Target at KeyCorp
Farfetch (NYSE:FTCH) had its price target lifted by KeyCorp from $17.00 to $23.00 in a report released on Friday morning, The Fly reports. KeyCorp currently has an overweight rating on the stock.
Several other analysts also recently commented on FTCH. Wells Fargo & Co downgraded shares of Farfetch from an equal weight rating to an underweight rating and reduced their target price for the stock from $17.00 to $5.00 in a report on Monday, March 30th. UBS Group lifted their price objective on shares of Farfetch from $16.00 to $20.00 and gave the stock a buy rating in a research note on Friday, May 15th. Zacks Investment Research cut shares of Farfetch from a buy rating to a hold rating in a research note on Wednesday, May 20th. BTIG Research upgraded shares of Farfetch from a neutral rating to a buy rating and set a $20.50 price objective for the company in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Farfetch from $17.00 to $12.00 and set an overweight rating for the company in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $17.99.
Shares of FTCH stock opened at $17.40 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of -15.13 and a beta of 2.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.39 and a current ratio of 1.61. The company has a 50-day simple moving average of $14.87 and a 200 day simple moving average of $11.87. Farfetch has a 52 week low of $5.99 and a 52 week high of $22.11.
Institutional investors and hedge funds have recently bought and sold shares of the business. FineMark National Bank & Trust bought a new stake in Farfetch during the 1st quarter worth approximately $80,000. First Trust Advisors LP bought a new stake in Farfetch during the 1st quarter worth approximately $276,000. Comerica Bank grew its holdings in Farfetch by 12.1% during the 1st quarter. Comerica Bank now owns 14,448 shares of the company’s stock worth $179,000 after acquiring an additional 1,558 shares during the last quarter. SG Americas Securities LLC bought a new stake in Farfetch during the 1st quarter worth approximately $118,000. Finally, Man Group plc bought a new stake in Farfetch during the 4th quarter worth approximately $157,000. 67.24% of the stock is currently owned by hedge funds and other institutional investors.
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 in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.
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