Farfetch (FTCH) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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Farfetch (NYSE:FTCH) released its earnings results on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.08), Briefing.com reports. The company had revenue of $132.18 million for the quarter, compared to the consensus estimate of $114.49 million. During the same period last year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 52.1% compared to the same quarter last year.

NYSE FTCH opened at $23.27 on Friday. Farfetch has a one year low of $18.39 and a one year high of $32.40.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Farfetch during the 3rd quarter valued at approximately $67,105,000. Shikiar Asset Management Inc. bought a new position in shares of Farfetch during the 3rd quarter valued at approximately $436,000. Thornburg Investment Management Inc. bought a new position in shares of Farfetch during the 3rd quarter valued at approximately $6,560,000. Massachusetts Financial Services Co. MA bought a new position in shares of Farfetch during the 3rd quarter valued at approximately $8,093,000. Finally, Dean Capital Investments Management LLC bought a new position in shares of Farfetch during the 3rd quarter valued at approximately $574,000. Hedge funds and other institutional investors own 0.10% of the company’s stock.

FTCH has been the subject of several recent analyst reports. Credit Suisse Group initiated coverage on Farfetch in a research note on Tuesday, October 16th. They issued an “outperform” rating and a $28.00 price target for the company. BNP Paribas initiated coverage on Farfetch in a research note on Friday, October 19th. They issued a “neutral” rating and a $24.00 price target for the company. Cowen restated a “buy” rating and issued a $28.00 price target on shares of Farfetch in a research note on Friday. UBS Group initiated coverage on Farfetch in a research note on Tuesday, October 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on Farfetch in a research note on Tuesday, October 16th. They issued an “overweight” rating and a $27.00 price target for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.00.

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Farfetch Company Profile

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves on May 15, 2018 and is headquartered in London, the United Kingdom.

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