Farfetch (FTCH) Stock Rating Lowered by Zacks Investment Research

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Farfetch (NYSE:FTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

Several other equities research analysts also recently weighed in on the stock. Oppenheimer started coverage on shares of Farfetch in a research note on Monday, March 11th. They set an “outperform” rating and a $34.00 target price for the company. Goldman Sachs Group upgraded shares of Farfetch from a “neutral” rating to a “buy” rating in a research note on Friday, March 1st. ValuEngine downgraded shares of Farfetch from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, Citigroup started coverage on shares of Farfetch in a research note on Monday, March 11th. They set an “outperform” rating and a $34.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.56.

Shares of FTCH opened at $27.09 on Thursday. Farfetch has a fifty-two week low of $15.98 and a fifty-two week high of $32.40. The stock has a market cap of $8.01 billion and a PE ratio of -45.92.

Large investors have recently made changes to their positions in the stock. Federated Investors Inc. PA acquired a new stake in Farfetch in the third quarter valued at about $82,000. Blueport Capital L.P. acquired a new stake in Farfetch in the third quarter valued at about $120,000. Barclays PLC lifted its position in Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after purchasing an additional 3,600 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Farfetch in the fourth quarter valued at about $135,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Farfetch in the third quarter valued at about $238,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.

About Farfetch

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 in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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