UBS Group Initiates Coverage on Stitch Fix (NASDAQ:SFIX)

UBS Group started coverage on shares of Stitch Fix (NASDAQ:SFIX - Free Report) in a report released on Monday, StockNewsAPI reports. The firm issued a neutral rating and a $2.80 price target on the stock.

SFIX has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Stitch Fix from $3.00 to $2.25 and set an underweight rating for the company in a report on Tuesday, March 5th. Wedbush reduced their target price on shares of Stitch Fix from $4.00 to $3.00 and set a neutral rating for the company in a report on Tuesday, March 5th. Sanford C. Bernstein cut their price target on shares of Stitch Fix from $4.00 to $3.40 and set a market perform rating for the company in a report on Tuesday, March 5th. Wells Fargo & Company cut their price target on shares of Stitch Fix from $3.50 to $3.00 and set an equal weight rating for the company in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group cut their price target on shares of Stitch Fix from $4.00 to $3.50 and set a hold rating for the company in a report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $3.16.

Stitch Fix Stock Performance

NASDAQ SFIX traded up $0.13 during trading hours on Monday, hitting $2.39. The company had a trading volume of 1,320,287 shares, compared to its average volume of 1,619,425. The business has a 50 day moving average of $2.92 and a 200-day moving average of $3.28. Stitch Fix has a 1-year low of $2.15 and a 1-year high of $5.20. The company has a market cap of $287.21 million, a PE ratio of -2.32 and a beta of 1.90.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its earnings results on Monday, March 4th. The company reported ($0.21) EPS for the quarter, meeting analysts' consensus estimates of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The business had revenue of $330.40 million during the quarter, compared to analysts' expectations of $331.73 million. Sell-side analysts expect that Stitch Fix will post -0.81 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Sarah Barkema sold 16,311 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $2.24, for a total value of $36,536.64. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.90% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Stitch Fix by 14.5% in the second quarter. BlackRock Inc. now owns 9,414,481 shares of the company's stock worth $36,246,000 after acquiring an additional 1,190,244 shares during the last quarter. Vanguard Group Inc. raised its stake in Stitch Fix by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company's stock valued at $80,203,000 after purchasing an additional 483,213 shares during the last quarter. Potrero Capital Research LLC lifted its holdings in Stitch Fix by 23.3% in the 2nd quarter. Potrero Capital Research LLC now owns 4,538,503 shares of the company's stock valued at $17,473,000 after purchasing an additional 858,945 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Stitch Fix by 50.3% during the 4th quarter. Millennium Management LLC now owns 3,088,465 shares of the company's stock worth $9,605,000 after purchasing an additional 1,033,703 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Stitch Fix by 3.6% during the first quarter. State Street Corp now owns 2,747,804 shares of the company's stock worth $14,041,000 after buying an additional 95,422 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company's stock.

Stitch Fix Company Profile

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.