Farfetch Ltd (FTCH) Expected to Post Earnings of -$0.08 Per Share

Analysts expect Farfetch Ltd (NYSE:FTCH) to announce earnings of ($0.08) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Farfetch’s earnings. The business is scheduled to report its next earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Farfetch will report full year earnings of ($0.57) per share for the current financial year, with EPS estimates ranging from ($0.58) to ($0.56). For the next financial year, analysts forecast that the firm will report earnings of ($0.44) per share, with EPS estimates ranging from ($0.44) to ($0.43). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Farfetch.

Farfetch (NYSE:FTCH) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The company had revenue of $132.18 million for the quarter, compared to the consensus estimate of $114.49 million. The firm’s revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS.

FTCH has been the subject of a number of research reports. Deutsche Bank initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set a “buy” rating and a $28.00 target price for the company. UBS Group initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set a “buy” rating for the company. Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Farfetch in a research note on Friday. Goldman Sachs Group initiated coverage on shares of Farfetch in a research note on Tuesday, October 16th. They set a “neutral” rating and a $24.00 target price for the company. Finally, BNP Paribas initiated coverage on shares of Farfetch in a research note on Friday, October 19th. They set a “neutral” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.00.

A number of institutional investors and hedge funds have recently made changes to their positions in FTCH. Massachusetts Financial Services Co. MA purchased a new stake in Farfetch during the 3rd quarter valued at $8,093,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Farfetch during the 3rd quarter valued at $67,105,000. Wells Fargo & Company MN bought a new stake in shares of Farfetch during the 3rd quarter valued at $33,245,000. Thornburg Investment Management Inc. bought a new stake in shares of Farfetch during the 3rd quarter valued at $6,560,000. Finally, Pendal Group Ltd bought a new stake in shares of Farfetch during the 3rd quarter valued at $282,000. Institutional investors and hedge funds own 0.10% of the company’s stock.

Shares of FTCH opened at $23.27 on Friday. Farfetch has a 1-year low of $18.39 and a 1-year high of $32.40.

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 on May 15, 2018 and is headquartered in London, the United Kingdom.

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