Wells Fargo & Company Cuts Stitch Fix (NASDAQ:SFIX) Price Target to $3.00

Stitch Fix (NASDAQ:SFIXGet Free Report) had its price target lowered by stock analysts at Wells Fargo & Company from $3.50 to $3.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 8.54% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Barclays cut their price objective on Stitch Fix from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 11th. Morgan Stanley increased their price objective on Stitch Fix from $3.75 to $4.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 6th. Canaccord Genuity Group cut their price objective on Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.44.

Read Our Latest Stock Analysis on Stitch Fix

Stitch Fix Stock Up 2.2 %

Shares of SFIX opened at $3.28 on Tuesday. The stock has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $3.52. The company has a market capitalization of $384.84 million, a PE ratio of -2.50 and a beta of 1.92. Stitch Fix has a 52-week low of $2.78 and a 52-week high of $5.48.

Stitch Fix (NASDAQ:SFIXGet Free Report) last issued its quarterly earnings data on Tuesday, December 5th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. Stitch Fix had a negative return on equity of 43.41% and a negative net margin of 9.79%. The company had revenue of $364.79 million during the quarter, compared to analysts’ expectations of $362.57 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. As a group, equities analysts anticipate that Stitch Fix will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Stitch Fix

Hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC purchased a new position in shares of Stitch Fix in the 3rd quarter worth about $1,182,000. Swiss National Bank raised its holdings in shares of Stitch Fix by 2.4% in the 3rd quarter. Swiss National Bank now owns 155,400 shares of the company’s stock worth $536,000 after purchasing an additional 3,700 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Stitch Fix in the 2nd quarter worth about $59,000. Bank of Montreal Can purchased a new position in shares of Stitch Fix in the 2nd quarter worth about $64,000. Finally, SG Americas Securities LLC purchased a new position in shares of Stitch Fix in the 3rd quarter worth about $93,000. 67.49% of the stock is owned by institutional investors and hedge funds.

About Stitch Fix

(Get Free Report)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.

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