Stitch Fix, Inc. (NASDAQ:SFIX) Expected to Post Quarterly Sales of $491.71 Million
Wall Street brokerages expect Stitch Fix, Inc. (NASDAQ: SFIX – Get a rating) to announce sales of $491.71 million for the current fiscal quarter, according to Zacks. Eight analysts have made earnings estimates for Stitch Fix, with the lowest sales estimate at $486.21 million and the highest estimate at $498.60 million. Stitch Fix recorded sales of $535.59 million in the same quarter last year, suggesting a negative 8.2% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Stitch Fix to record annual sales of $2.09 billion in the current fiscal year, with estimates ranging from $2.07 billion to $2.11 billion. For the next fiscal year, analysts expect the company to post sales of $2.26 billion, with estimates ranging from $2.14 billion to $2.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that track Stitch Fix.
Point correction (NASDAQ: SFIX – Get a rating) last announced its results on Tuesday, March 8. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting the Zacks consensus estimate of ($0.28). Stitch Fix had a negative net margin of 1.37% and a negative return on equity of 6.58%. The company posted revenue of $516.70 million for the quarter, versus analyst estimates of $514.50 million. In the same period of the previous year, the company had earned earnings per share of ($0.20). Stitch Fix’s quarterly revenue increased 2.5% year over year.
A number of stock analysts have recently released reports on the stock. Robert W. Baird reduced his target price on Stitch Fix shares from $25.00 to $11.00 in a Wednesday, March 9 research report. Zacks Investment Research upgraded Stitch Fix shares from a “sell” to a “hold” rating and set a target price of $16.00 for the company in a Thursday, Feb. 3 research note. MKM Partners lowered its price target on shares of Stitch Fix from $19.00 to $9.00 in a Monday, March 7 research report. Canaccord Genuity Group lowered its price target on Stitch Fix shares from $38.00 to $20.00 and set a “buy” rating for the company in a Wednesday, March 9 research report. Finally, Jefferies Financial Group began covering Stitch Fix shares in a research report on Friday, March 18. They set a “holding” rating and a price target of $10.00 for the company. Two equity research analysts gave the stock a sell rating, sixteen gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, Stitch Fix currently has a consensus rating of “Hold” and a consensus price target of $17.95.
In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) bought 100,000 shares in a deal that took place on Thursday January 20th. The shares were acquired at an average cost of $16.10 per share, with a total value of $1,610,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. 27.01% of the shares are currently held by insiders of the company.
A number of hedge funds have recently increased or reduced their stakes in the company. Working Capital Advisors UK Ltd. increased its stake in Stitch Fix by 22.3% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 11,088,374 shares of the company valued at $209,792,000 after purchasing an additional 2,021,562 shares during the period. BlackRock Inc. increased its stake in Stitch Fix by 17.8% in Q4. BlackRock Inc. now owns 6,347,416 shares of the company valued at $120,093,000 after purchasing an additional 956,919 shares during the period. Morgan Stanley increased its stake in Stitch Fix by 23.8% in the second quarter. Morgan Stanley now owns 4,816,101 shares of the company valued at $290,411,000 after purchasing an additional 924,886 shares during the period. Slate Path Capital LP increased its equity stake in Stitch Fix by 43.6% in Q4. Slate Path Capital LP now owns 4,282,056 shares of the company valued at $81,016,000 after purchasing an additional 1,300,000 shares last quarter. Finally, Spyglass Capital Management LLC increased its stake in Stitch Fix shares by 12.1% in the 3rd quarter. Spyglass Capital Management LLC now owns 4,081,829 shares of the company valued at $163,069,000 after purchasing an additional 439,266 shares last quarter. 67.10% of the shares are currently held by hedge funds and other institutional investors.
Shares of SFIX Stock traded down $0.53 during Wednesday trading hours, hitting $9.69. 2,716,122 shares of the company were traded, with an average volume of 2,597,785. Stitch Fix has a fifty-two week low of $8.75 and a fifty-two week high of $69.20. The stock’s fifty-day moving average is $11.54 and its two-hundred-day moving average is $20.62.
Stitch Fix Company Profile (Get a rating)
Stitch Fix, Inc sells a range of apparel, footwear, and accessories through its website and mobile app in the United States. It offers jeans, dresses, blouses, skirts, shoes, jewelry and handbags for men, women and children under the Stitch Fix brand. The company was previously known as rack habit inc.
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