Stitch Fix (NASDAQ:SFIX) Stock Price Expected to Rise, UBS Group Analyst Says

Stitch Fix (NASDAQ:SFIX) had its price objective increased by investment analysts at UBS Group from $2.80 to $5.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 10.38% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Wednesday. Canaccord Genuity Group increased their price objective on Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and an average target price of $3.60.

Stitch Fix Stock Performance

NASDAQ SFIX opened at $4.53 on Wednesday. The company has a market capitalization of $574.59 million, a PE ratio of -4.19 and a beta of 1.99. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $5.05. The company has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.62.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The company had revenue of $319.55 million during the quarter, compared to analyst estimates of $317.48 million. As a group, analysts forecast that Stitch Fix will post -0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Stitch Fix

Several institutional investors have recently modified their holdings of the business. Caprock Group LLC bought a new position in Stitch Fix during the third quarter valued at approximately $33,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Stitch Fix during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. bought a new position in shares of Stitch Fix during the 3rd quarter valued at $44,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Stitch Fix in the 2nd quarter worth $46,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix in the second quarter worth $48,000. 71.04% of the stock is owned by hedge funds and other 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.