Stitch Fix (NASDAQ:SFIX – Get Rating) had its price objective reduced by stock analysts at Truist Financial from $12.00 to $8.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 19.40% from the stock’s current price.
A number of other equities analysts have also recently issued reports on SFIX. Sanford C. Bernstein started coverage on shares of Stitch Fix in a research report on Tuesday, March 15th. They issued a “market perform” rating and a $11.00 price objective on the stock. Stifel Nicolaus lowered their price target on Stitch Fix from $12.00 to $9.00 and set a “hold” rating for the company in a research report on Friday. Evercore ISI cut their price objective on Stitch Fix from $13.00 to $10.00 and set an “in-line” rating on the stock in a research report on Friday. Morgan Stanley reduced their target price on Stitch Fix from $9.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Telsey Advisory Group dropped their price target on Stitch Fix from $14.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Stitch Fix presently has a consensus rating of “Hold” and a consensus price target of $15.76.
SFIX traded down $1.08 on Friday, hitting $6.70. 258,111 shares of the company were exchanged, compared to its average volume of 3,184,786. The firm has a fifty day simple moving average of $9.07 and a two-hundred day simple moving average of $13.70. The stock has a market capitalization of $728.96 million, a PE ratio of -23.10 and a beta of 1.74. Stitch Fix has a 12 month low of $6.71 and a 12 month high of $64.52.
Stitch Fix (NASDAQ:SFIX – Get Rating) last issued its earnings results on Thursday, June 9th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.15). Stitch Fix had a negative return on equity of 6.58% and a negative net margin of 1.37%. The firm had revenue of $492.90 million during the quarter, compared to the consensus estimate of $493.71 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts forecast that Stitch Fix will post -1.38 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management boosted its holdings in Stitch Fix by 162.8% in the fourth quarter. Neo Ivy Capital Management now owns 1,616 shares of the company’s stock worth $31,000 after purchasing an additional 1,001 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of Stitch Fix during the 1st quarter valued at $74,000. Gladius Capital Management LP purchased a new position in shares of Stitch Fix in the 1st quarter worth $76,000. Dark Forest Capital Management LP grew its holdings in shares of Stitch Fix by 40.9% in the third quarter. Dark Forest Capital Management LP now owns 2,235 shares of the company’s stock worth $89,000 after acquiring an additional 649 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in Stitch Fix in the first quarter valued at about $112,000. 70.50% of the stock is owned by hedge funds and other institutional investors.
Stitch Fix Company Profile (Get Rating)
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.
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