Stitch Fix (NASDAQ:SFIX) Price Target Raised to $4.50

Stitch Fix (NASDAQ:SFIX) had its target price hoisted by Canaccord Genuity Group from $3.50 to $4.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 17.19% from the stock’s current price.

Several other research firms have also weighed in on SFIX. UBS Group began coverage on Stitch Fix in a research note on Monday, April 8th. They issued a “neutral” rating and a $2.80 price objective on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Thursday, May 30th. Truist Financial boosted their price target on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Wells Fargo & Company reduced their price target on Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 5th. Finally, Wedbush reissued a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.37.

Stitch Fix Price Performance

NASDAQ SFIX opened at $3.84 on Thursday. The firm has a market capitalization of $469.79 million, a P/E ratio of -3.76 and a beta of 1.98. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.20. The business’s 50-day simple moving average is $2.75 and its 200-day simple moving average is $3.00.

Insider Activity

In other news, CAO Sarah Barkema sold 30,000 shares of the business’s stock in a transaction that occurred 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 approximately $405,920.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Stitch Fix by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company’s stock worth $20,204,000 after acquiring an additional 231,975 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in shares of Stitch Fix in the first quarter valued at $8,994,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Stitch Fix by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company’s stock valued at $7,218,000 after buying an additional 99,914 shares during the period. Kent Lake Capital LLC acquired a new stake in shares of Stitch Fix in the third quarter valued at $2,932,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Stitch Fix in the first quarter valued at $1,716,000. 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.