Stitch Fix (NASDAQ:SFIX) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Stitch Fix (NASDAQ:SFIX) announced its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09, Zacks reports. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. The business had revenue of $318.82 million for the quarter, compared to analysts’ expectations of $306.88 million. During the same period in the previous year, the firm earned ($0.30) EPS. The business’s quarterly revenue was down 12.6% on a year-over-year basis.

Stitch Fix Stock Up 0.4 %

NASDAQ:SFIX traded up $0.02 during mid-day trading on Tuesday, hitting $4.60. 7,709,142 shares of the stock traded hands, compared to its average volume of 1,878,501. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05. The stock has a market capitalization of $583.45 million, a price-to-earnings ratio of -4.24 and a beta of 1.99. The firm’s 50 day moving average is $3.53 and its two-hundred day moving average is $3.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Stitch Fix from $3.50 to $5.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Telsey Advisory Group restated a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, Stitch Fix presently has an average rating of “Hold” and a consensus price target of $3.57.

Stitch Fix Company Profile

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.