Stitch Fix (NASDAQ:SFIX) PT Lowered to $3.40 at UBS Group

by · The Markets Daily

Stitch Fix (NASDAQ:SFIX – Free Report) had its price target lowered by UBS Group from $4.20 to $3.40 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

SFIX has been the subject of a number of other reports. Truist Financial reduced their price objective on shares of Stitch Fix from $4.00 to $3.50 and set a hold rating for the company in a report on Tuesday. Telsey Advisory Group reiterated a market perform rating and set a $4.00 price target on shares of Stitch Fix in a research report on Tuesday. Wells Fargo & Company decreased their price objective 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. Piper Sandler cut their price objective on shares of Stitch Fix from $3.00 to $2.25 and set an underweight rating on the stock in a research report on Tuesday. Finally, Sanford C. Bernstein decreased 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 report on Tuesday. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $3.32.

Read Our Latest Research Report on Stitch Fix

Stitch Fix Stock Up 2.0 %

Shares of SFIX opened at $2.51 on Tuesday. Stitch Fix has a 12 month low of $2.35 and a 12 month high of $5.48. The company’s fifty day moving average is $3.30 and its 200-day moving average is $3.49. The firm has a market cap of $294.50 million, a price-to-earnings ratio of -2.44 and a beta of 1.92.

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

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently made changes to their positions in SFIX. Essex Investment Management Co. LLC purchased a new stake in shares of Stitch Fix in the third quarter worth about $1,182,000. Swiss National Bank lifted its stake in Stitch Fix by 2.4% in the third quarter. Swiss National Bank now owns 155,400 shares of the company’s stock worth $536,000 after acquiring an additional 3,700 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Stitch Fix in the second quarter worth $59,000. Bank of Montreal Can purchased a new position in Stitch Fix during the second quarter valued at $64,000. Finally, SG Americas Securities LLC bought a new position in shares of Stitch Fix during the third quarter valued at $93,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

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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