Stitch Fix, Inc. (NASDAQ:SFIX) Stock Has Average Target Price of $3.40 According to Brokerages

Key Points

• Analysts are broadly neutral on Stitch Fix: six of eight covering firms rate it Hold, with one Sell and one Buy; the average 12-month price target is $3.40.
• Recent analyst actions were mixed: Mizuho upgraded the stock to Neutral but lowered its target to $2.50, while Telsey cut its target to $3.00. Shares opened at $2.74, below their 200-day moving average of $3.48.
• In its latest reported quarter, Stitch Fix’s loss of $0.02 per share was narrower than expected, but revenue of $324.42 million missed estimates; revenue increased 4.2% year over year.

Shares of Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) have been given a consensus recommendation of "Hold" by the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.40.

SFIX has been the topic of a number of research analyst reports. Northland Securities set a $4.00 price target on Stitch Fix in a research report on Thursday, September 24th. Sanford C. Bernstein reiterated a "market perform" rating and set a $4.00 target price on shares of Stitch Fix in a research report on Thursday, September 24th. Mizuho upgraded shares of Stitch Fix from an "underperform" rating to a "neutral" rating and cut their price target for the company from $3.00 to $2.50 in a research report on Tuesday, September 29th. Telsey Advisory Group decreased their price objective on Stitch Fix from $5.00 to $3.00 and set a "market perform" rating for the company in a research report on Thursday, September 24th. Finally, Weiss Ratings downgraded Stitch Fix from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 23rd.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Stitch Fix by 10.1% in the second quarter. State Street Corp now owns 3,503,504 shares of the company's stock worth $14,399,000 after purchasing an additional 322,030 shares during the period. Dimensional Fund Advisors LP grew its position in Stitch Fix by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company's stock worth $8,004,000 after acquiring an additional 142,909 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Stitch Fix in the 2nd quarter valued at approximately $6,427,000. Ieq Capital LLC lifted its stake in shares of Stitch Fix by 48.8% in the second quarter. Ieq Capital LLC now owns 394,095 shares of the company's stock worth $1,620,000 after acquiring an additional 129,202 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Stitch Fix by 4.1% during the third quarter. Russell Investments Group Ltd. now owns 194,440 shares of the company's stock valued at $498,000 after acquiring an additional 7,720 shares during the last quarter. 71.04% of the stock is owned by institutional investors.

Stitch Fix Price Performance

Shares of SFIX stock opened at $2.74 on Monday. Stitch Fix has a 12 month low of $2.10 and a 12 month high of $5.74. The firm has a market cap of $366.06 million, a PE ratio of -27.40 and a beta of 2.45. The stock has a 50 day moving average of $2.75 and a 200-day moving average of $3.48.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its earnings results on Wednesday, September 23rd. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.04. The business had revenue of $324.42 million for the quarter, compared to the consensus estimate of $325.50 million. Stitch Fix had a negative return on equity of 5.75% and a negative net margin of 0.94%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business earned ($0.07) earnings per share. As a group, equities analysts predict that Stitch Fix will post -0.15 EPS for the current fiscal year.

Stitch Fix Company Profile

Stitch Fix, Inc is an online personal styling company that uses data science, technology and human stylists to recommend apparel and accessories tailored to individual customers. Its service is designed to help consumers discover clothing through personalized selections based on their stated preferences, fit information, lifestyle and purchase history.

The company's primary offering is its “Fix” experience, in which customers receive a curated shipment of merchandise selected by Stitch Fix and can keep the items they want while returning the rest.

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