Truist Financial Lowers Stitch Fix (NASDAQ:SFIX) Price Target to $3.50

Stitch Fix (NASDAQ:SFIXFree Report) had its price target lowered by Truist Financial from $4.00 to $3.50 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts have also recently issued research reports about the company. 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. Wedbush cut their price objective on Stitch Fix from $4.00 to $3.00 and set a neutral rating for the company in a research report on Tuesday. Wells Fargo & Company dropped their price target on Stitch Fix from $3.50 to $3.00 and set an equal weight rating for the company in a research report on Tuesday. Piper Sandler dropped their price target on Stitch Fix from $3.00 to $2.25 and set an underweight rating for the company in a research report on Tuesday. Finally, Telsey Advisory Group reiterated a market perform rating and set a $4.00 price objective on shares of Stitch Fix in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, Stitch Fix currently has an average rating of Hold and an average target price of $3.32.

Check Out Our Latest Research Report on SFIX

Stitch Fix Trading Up 2.0 %

SFIX stock opened at $2.51 on Tuesday. The company has a market capitalization of $294.50 million, a P/E ratio of -2.44 and a beta of 1.92. Stitch Fix has a twelve month low of $2.35 and a twelve month high of $5.48. The business has a 50 day simple moving average of $3.30 and a 200-day simple moving average of $3.49.

Stitch Fix (NASDAQ:SFIXGet Free Report) last issued its quarterly earnings results on Tuesday, December 5th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03. Stitch Fix had a negative return on equity of 39.98% and a negative net margin of 8.29%. The firm had revenue of $364.79 million during the quarter, compared to the consensus estimate of $362.57 million. During the same period last year, the company earned ($0.46) earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. Research analysts predict that Stitch Fix will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds and other institutional investors have recently modified their holdings of SFIX. Essex Investment Management Co. LLC acquired a new position in Stitch Fix during the 3rd quarter worth approximately $1,182,000. Swiss National Bank increased its holdings in Stitch Fix by 2.4% during 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 last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Stitch Fix during the 2nd quarter worth approximately $59,000. Bank of Montreal Can bought a new stake in shares of Stitch Fix in the 2nd quarter valued at approximately $64,000. Finally, SG Americas Securities LLC bought a new stake in shares of Stitch Fix in the 3rd quarter valued at approximately $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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