Zacks Investment Research cut shares of Farfetch (NYSE:FTCH) from a hold rating to a sell rating in a 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. “
FTCH has been the subject of a number of other research reports. ValuEngine downgraded shares of Farfetch from a buy rating to a hold rating in a report on Tuesday, November 20th. Citigroup started coverage on shares of Farfetch in a report on Monday. They set an outperform rating and a $34.00 price target for the company. Oppenheimer started coverage on shares of Farfetch in a report on Monday. They set an outperform rating and a $34.00 price target for the company. Finally, Goldman Sachs Group raised shares of Farfetch from a neutral rating to a buy rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Farfetch presently has a consensus rating of Buy and a consensus target price of $28.56.
A number of large investors have recently modified their holdings of FTCH. Federated Investors Inc. PA bought a new position in Farfetch in the 3rd quarter valued at approximately $82,000. Barclays PLC lifted its stake in Farfetch by 163.6% in the 4th 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 last quarter. Blueport Capital L.P. bought a new position in Farfetch in the 3rd quarter valued at approximately $120,000. NumerixS Investment Technologies Inc bought a new position in Farfetch in the 4th quarter valued at approximately $135,000. Finally, Pendal Group Ltd lifted its stake in Farfetch by 6.2% in the 4th quarter. Pendal Group Ltd now owns 11,004 shares of the company’s stock valued at $195,000 after purchasing an additional 639 shares during the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.
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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