Stitch Fix (NASDAQ:SFIX) Price Target Raised to $6.00

Stitch Fix (NASDAQ:SFIX) had its price objective raised by Telsey Advisory Group from $4.00 to $6.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have a market perform rating on the stock.

A number of other analysts also recently weighed in on SFIX. Canaccord Genuity Group raised their price target on shares of Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. UBS Group increased their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.96.

Stitch Fix Price Performance

Shares of SFIX opened at $3.92 on Wednesday. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $6.99. The stock’s 50-day moving average is $3.72 and its two-hundred day moving average is $3.72. The stock has a market cap of $497.20 million, a PE ratio of -4.72 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.21%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) earnings per share. On average, research analysts anticipate that Stitch Fix will post -0.61 earnings per share for the current year.

Insider Activity at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds have recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new stake in shares of Stitch Fix in the second quarter valued at $48,000. Baader Bank Aktiengesellschaft acquired a new stake in Stitch Fix in the 2nd quarter valued at about $46,000. Caprock Group LLC bought a new position in shares of Stitch Fix during the 3rd quarter valued at about $33,000. CWM LLC grew its stake in shares of Stitch Fix by 132.5% in the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after purchasing an additional 6,762 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Stitch Fix in the 3rd quarter worth approximately $36,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

About Stitch Fix

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.