Telsey Advisory Group Reaffirms “Market Perform” Rating for Stitch Fix (NASDAQ:SFIX)

Stitch Fix (NASDAQ:SFIXGet Free Report)‘s stock had its “market perform” rating reiterated by analysts at Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $4.00 price target on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 81.82% from the company’s previous close.

SFIX has been the topic of a number of other reports. Piper Sandler decreased their target price on Stitch Fix from $3.00 to $2.25 and set an “underweight” rating on the stock in a report on Tuesday, March 5th. Wedbush reduced their price objective on Stitch Fix from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. UBS Group initiated coverage on Stitch Fix in a research report on Monday, April 8th. They set a “neutral” rating and a $2.80 price objective for the company. Wells Fargo & Company dropped their target price on Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. Finally, Sanford C. Bernstein lowered their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.16.

Check Out Our Latest Stock Report on Stitch Fix

Stitch Fix Trading Down 4.3 %

NASDAQ SFIX opened at $2.20 on Thursday. The company has a 50-day moving average price of $2.32 and a two-hundred day moving average price of $3.01. The stock has a market cap of $264.37 million, a price-to-earnings ratio of -2.14 and a beta of 1.94. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.20.

Stitch Fix (NASDAQ:SFIXGet Free Report) last released its earnings results on Monday, March 4th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. As a group, equities research analysts expect that Stitch Fix will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Sarah Barkema sold 16,311 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total value of $36,536.64. Following the transaction, the chief accounting officer now directly owns 138,535 shares in the company, valued at approximately $310,318.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several hedge funds and other institutional investors have recently modified their holdings of SFIX. Plato Investment Management Ltd raised its holdings in Stitch Fix by 138.6% in the 1st quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock valued at $73,000 after acquiring an additional 16,155 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $8,994,000. Price T Rowe Associates Inc. MD raised its stake in shares of Stitch Fix by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock valued at $223,000 after purchasing an additional 5,404 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Stitch Fix by 576.6% in the 1st quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock valued at $179,000 after buying an additional 57,933 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Stitch Fix by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock valued at $483,000 after buying an additional 10,698 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Company Profile

(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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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