Wells Fargo & Co Increases Farfetch (NYSE:FTCH) Price Target to $10.00
Farfetch (NYSE:FTCH) had its price target lifted by Wells Fargo & Co from $5.00 to $10.00 in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the stock.
Several other research analysts have also issued reports on the company. BTIG Research raised Farfetch from a neutral rating to a buy rating and set a $20.50 target price on the stock in a research report on Thursday, June 25th. Oppenheimer reiterated a buy rating and set a $16.00 price target on shares of Farfetch in a research note on Thursday, June 25th. UBS Group boosted their price target on Farfetch from $16.00 to $20.00 and gave the company a buy rating in a research note on Friday, May 15th. KeyCorp boosted their price target on Farfetch from $17.00 to $23.00 and gave the company an overweight rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Farfetch from $17.00 to $12.00 and set an overweight rating on the stock in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Farfetch presently has an average rating of Buy and a consensus target price of $17.99.
Shares of NYSE:FTCH opened at $17.40 on Friday. The business’s 50-day moving average is $14.87 and its 200 day moving average is $11.87. Farfetch has a 1 year low of $5.99 and a 1 year high of $22.11. The firm has a market capitalization of $5.76 billion, a P/E ratio of -15.13 and a beta of 2.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.61 and a quick ratio of 1.39.
Institutional investors and hedge funds have recently modified their holdings of the company. FineMark National Bank & Trust acquired a new position in Farfetch in the 1st quarter worth about $80,000. SG Americas Securities LLC acquired a new position in Farfetch in the 1st quarter worth about $118,000. Banque Cantonale Vaudoise acquired a new position in Farfetch in the 1st quarter worth about $133,000. Tudor Investment Corp Et Al acquired a new position in Farfetch in the 1st quarter worth about $154,000. Finally, Man Group plc acquired a new position in Farfetch in the 4th quarter worth about $157,000. Hedge funds and other institutional investors own 67.24% of the company’s stock.
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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