Morgan Stanley Investment Managem.. recently announced the acquisition of new stake in Farfetch Limited (NYSE:FTCH). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.63% to 28.27 million shares with purchase of 1.25 million shares. This fresh investment now brings its stake to 9.52% valued currently at $724.64 million. In addition, Morgan Stanley Asia Ltd. (Investm.. raised its holdings by 1.14 million to 14.31 million shares. And Invesco Advisers, Inc. has lifted its position by 13.77% or 1.53 million shares – to 12.66 million shares.
With over 5.4 million Farfetch Limited (FTCH) shares trading Tuesday and a closing price of $28.50 on the day, the dollar volume was approximately $153.95 million. The shares have shown a positive weekly performance of 2.19% and its price on 09/01/20 gained nearly 2.93%. Currently, there are 341.22M common shares owned by the public and among those 224.64M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for FTCH have a consensus price objective of $29.48. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $9.60 should the stock experience a downside. Incidentally, analysts’ outlook for the Farfetch Limited stock is 2.20 for the next 12 months. The average price target is 2.03% above its last price level and an upside to the estimated low will see the stock lose -196.88% over that period. But an upside of 28.75% will see the stock hit the forecast high price target while mean target price for the stock is $32.00.
The top 3 mutual fund holders in Farfetch Limited are Invesco American Franchise Fund, Morgan Stanley Instl. Fund-Growth, and Morgan Stanley Invt. Fds. – Globa. Invesco American Franchise Fund owns 6.5 million shares of the company’s stock, all valued at over $166.5 million. The company bought an additional 1.44 million shares recently to bring their total holdings to about 2.19% of the shares outstanding. Morgan Stanley Instl. Fund-Growth bought 13623.0 shares to see its total holdings expand to 6.27 million shares valued at over $160.6 million and representing 2.11% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa now owns shares totaling to 1.98% of the shares outstanding.
Shares of Farfetch Limited (NYSE: FTCH) opened at $28.10, up $0.41 from a prior closing price of $27.69. However, the script later closed the day at $28.50, up 2.93%. The company’s stock has a 5-day price change of 2.19% and 89.12% over the past three months. FTCH shares are trading 175.36% year to date (YTD), with the 12-month market performance up to 218.08% higher. It has a 12-month low price of $5.99 and touched a high of $31.88 over the same period. Currently, 5.4 million shares have been traded, compared to an average intraday trading volume of 4.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.36%, 21.71%, and 97.50% respectively.
Institutional ownership of Farfetch Limited (NYSE: FTCH) shares accounts for 83.00% of the company’s 341.22M shares outstanding. Mutual fund holders own 30.42%, while other institutional holders and individual stakeholders account for 32.37% and — respectively.
It has a market capitalization of $9.76B. The earnings-per-share (ttm) stands at -$2.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.27% over the week and 5.31% over the month.
Analysts forecast that Farfetch Limited (FTCH) will achieve an EPS of -$0.4 for the current quarter, -$0.33 for the next quarter and -$1.09 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.29. Comparatively, EPS for the current quarter was -$0.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -132.90%, and 43.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Farfetch Limited (FTCH) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 1 of the 16 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FTCH, a number of firms have released research notes about the stock. China Renaissance stated their Buy rating for the stock in a research note on July 09, 2020, with the firm’s price target at $33. BTIG Research coverage for the Farfetch Limited (FTCH) stock in a research note released on June 26, 2020 offered a Buy rating with a price target of $20.50. BTIG Research was of a view on May 15, 2020 that the stock is Neutral, while Wells Fargo gave the stock Underweight rating on March 30, 2020, issuing a price target of $17- $5. BofA/Merrill on their part issued Buy rating on August 29, 2019.