Canaccord Genuity Group Increases Stitch Fix (NASDAQ:SFIX) Price Target to $4.50

Stitch Fix (NASDAQ:SFIX) had its price target lifted by Canaccord Genuity Group from $3.50 to $4.50 in a report published on Thursday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

SFIX has been the topic of several other research reports. Sanford C. Bernstein decreased their price target on Stitch Fix from $4.00 to $3.40 and set a market perform rating on the stock in a research note on Tuesday, March 5th. Truist Financial lifted their target price on Stitch Fix from $3.50 to $4.00 and gave the company a hold rating in a research report on Wednesday, June 5th. Mizuho increased their target price on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a report on Monday, June 10th. UBS Group began coverage on shares of Stitch Fix in a report on Monday, April 8th. They set a neutral rating and a $2.80 price target on the stock. Finally, Telsey Advisory Group reissued a market perform rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $3.37.

Stitch Fix Stock Up 2.2 %

SFIX opened at $4.15 on Thursday. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $5.20. The stock has a market capitalization of $507.71 million, a price-to-earnings ratio of -4.07 and a beta of 1.98. The company has a 50-day simple moving average of $2.83 and a 200 day simple moving average of $3.00.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, June 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.10. The business had revenue of $322.73 million for the quarter, compared to analyst estimates of $305.93 million. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. Sell-side analysts anticipate that Stitch Fix will post -0.73 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, CAO Sarah Barkema sold 30,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.74, for a total value of $112,200.00. Following the completion of the sale, the chief accounting officer now directly owns 108,535 shares in the company, valued at $405,920.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.90% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Several institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd raised its holdings in Stitch Fix by 138.6% during the 1st quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock worth $73,000 after purchasing an additional 16,155 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in Stitch Fix during the first quarter worth $8,994,000. Price T Rowe Associates Inc. MD raised its stake 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 lifted its holdings in Stitch Fix by 576.6% in the first quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock valued at $179,000 after buying an additional 57,933 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Stitch Fix by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock valued at $483,000 after buying 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.