Fintel reports that on May 25, 2023, Citigroup maintained coverage of Farfetch Ltd – (NYSE:FTCH) with a Sell recommendation.
Analyst Price Forecast Suggests 83.13% Upside
As of May 10, 2023, the average one-year price target for Farfetch Ltd – is 9.16. The forecasts range from a low of 4.04 to a high of $21.00. The average price target represents an increase of 83.13% from its latest reported closing price of 5.00.
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The projected annual revenue for Farfetch Ltd – is 2,793MM, an increase of 18.43%. The projected annual non-GAAP EPS is -1.05.
What is the Fund Sentiment?
There are 353 funds or institutions reporting positions in Farfetch Ltd -. This is a decrease of 49 owner(s) or 12.19% in the last quarter. Average portfolio weight of all funds dedicated to FTCH is 0.27%, a decrease of 6.64%. Total shares owned by institutions increased in the last three months by 1.45% to 311,871K shares. The put/call ratio of FTCH is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 44,697K shares representing 11.30% ownership of the company. In it’s prior filing, the firm reported owning 46,960K shares, representing a decrease of 5.06%. The firm decreased its portfolio allocation in FTCH by 14.46% over the last quarter.
Dragoneer Investment Group holds 25,710K shares representing 6.50% ownership of the company. In it’s prior filing, the firm reported owning 15,524K shares, representing an increase of 39.62%. The firm increased its portfolio allocation in FTCH by 31.45% over the last quarter.
Invesco holds 13,680K shares representing 3.46% ownership of the company. In it’s prior filing, the firm reported owning 12,397K shares, representing an increase of 9.38%. The firm decreased its portfolio allocation in FTCH by 89.90% over the last quarter.
T. Rowe Price Investment Management holds 9,734K shares representing 2.46% ownership of the company. In it’s prior filing, the firm reported owning 10,441K shares, representing a decrease of 7.27%. The firm decreased its portfolio allocation in FTCH by 9.58% over the last quarter.
ArrowMark Colorado Holdings holds 9,126K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 8,423K shares, representing an increase of 7.71%. The firm increased its portfolio allocation in FTCH by 7.07% over the last quarter.
Farfetch Background Information
(This description is provided by the company.)
Farfetch Limited is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, Farfetch began as an e-commerce marketplace for luxury boutiques around the world. Today the Farfetch Marketplace connects customers in over 190 countries with items from more than 50 countries and over 1,300 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform. Farfetch’s additional businesses include Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities; Browns and Stadium Goods, which offer luxury products to consumers; and New Guards Group, a platform for the development of global fashion brands. Farfetch also invests in innovations such as its Store of the Future augmented retail solution, and develops key technologies, business solutions, and services for the luxury fashion industry.
This story originally appeared on Fintel.
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