Analysts Set Stitch Fix, Inc. (NASDAQ:SFIX) Price Target at $3.16

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned a consensus rating of “Reduce” from the twelve analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $3.16.

Several equities research analysts have weighed in on the stock. UBS Group began coverage on shares of Stitch Fix in a research note on Monday, April 8th. They issued a “neutral” rating and a $2.80 price target for the company. Wells Fargo & Company dropped their price target on Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 5th. Mizuho assumed coverage on Stitch Fix in a research note on Tuesday, March 19th. They issued an “underperform” rating and a $2.00 price objective for the company. Truist Financial decreased their price objective on Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, March 5th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a report on Tuesday, March 5th.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $2.24 on Friday. The business’s 50-day moving average is $2.32 and its 200-day moving average is $3.04. Stitch Fix has a 1 year low of $2.06 and a 1 year high of $5.20. The company has a market capitalization of $269.18 million, a price-to-earnings ratio of -2.17 and a beta of 1.94.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. Stitch Fix had a negative return on equity of 39.98% and a negative net margin of 8.29%. Analysts anticipate that Stitch Fix will post -0.81 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Sarah Barkema sold 16,311 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the transaction, the chief accounting officer now directly owns 138,535 shares of the company’s stock, valued at $310,318.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

A number of hedge funds have recently bought and sold shares of SFIX. Plato Investment Management Ltd grew its stake in Stitch Fix by 138.6% in the 1st quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock valued at $73,000 after purchasing an additional 16,155 shares during the period. Maple Rock Capital Partners Inc. bought a new position in Stitch Fix during the first quarter valued at about $8,994,000. Price T Rowe Associates Inc. MD increased its holdings in Stitch Fix by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock worth $223,000 after buying an additional 5,404 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Stitch Fix by 576.6% during the first quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock worth $179,000 after buying an additional 57,933 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Stitch Fix by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock worth $483,000 after acquiring an additional 10,698 shares during the period. 71.04% of the stock is currently owned by institutional investors.

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.