Stitch Fix (NASDAQ:SFIX – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.05, FiscalAI reports. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The company had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million.
Stitch Fix Trading Down 0.6%
SFIX stock traded down $0.02 during trading hours on Wednesday, hitting $3.60. 2,288,410 shares of the stock traded hands, compared to its average volume of 2,028,266. The stock has a 50-day simple moving average of $3.47 and a 200 day simple moving average of $4.06. Stitch Fix has a one year low of $2.95 and a one year high of $5.94. The company has a market cap of $491.47 million, a P/E ratio of -27.69 and a beta of 2.31.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SFIX shares. William Blair reaffirmed a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a research note on Tuesday, April 21st. Northland Securities started coverage on Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price for the company. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, UBS Group decreased their target price on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.
Insider Activity
In other news, CFO David Aufderhaar sold 65,709 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total transaction of $203,040.81. Following the completion of the sale, the chief financial officer directly owned 1,178,037 shares of the company’s stock, valued at $3,640,134.33. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3.08, for a total value of $184,800.00. Following the sale, the insider directly owned 480,334 shares of the company’s stock, valued at approximately $1,479,428.72. This represents a 11.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.09% of the company’s stock.
Institutional Investors Weigh In On Stitch Fix
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Stitch Fix by 3.2% during the third quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock valued at $33,420,000 after purchasing an additional 240,584 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Stitch Fix by 73.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock valued at $19,241,000 after purchasing an additional 1,549,902 shares during the last quarter. State Street Corp lifted its holdings in shares of Stitch Fix by 18.6% during the fourth quarter. State Street Corp now owns 3,239,044 shares of the company’s stock valued at $17,005,000 after purchasing an additional 508,588 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Stitch Fix by 302.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock valued at $12,603,000 after purchasing an additional 2,178,156 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Stitch Fix by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 2,791,632 shares of the company’s stock valued at $14,659,000 after purchasing an additional 266,356 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.
About Stitch Fix
Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.
Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.
Read More
- Five stocks we like better than Stitch Fix
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
- Intel Is the Market’s Most Mispriced AI Hedge
- The Biggest Opportunity From SpaceX’s IPO May Surprise You
Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.
