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Merrill Lynch Stick to Their Buy Rating for Farfetch

Published 07/21/2020, 10:25 AM
Updated 07/21/2020, 10:25 AM


Merrill Lynch analyst Ashley Wallace reiterated a Buy rating on Farfetch (NYSE:FTCH) on Tuesday, setting a price target of $27, which is approximately 24.48% above the present share price of $21.69.

Wallace expects Farfetch to post earnings per share (EPS) of -$0.24 for the third quarter of 2020.

The current consensus among 9 TipRanks analysts is for a Strong Buy rating of shares in Farfetch, with an average price target of $22.08.
The analysts price targets range from a high of $33 to a low of $10.

In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $331.44 million and a net profit of -$105.43 million. The company's market cap is $7.37 billion.

According to TipRanks.com, Merrill Lynch analyst Ashley Wallace is currently ranked with 3 stars on a 0-5 stars ranking scale, with an average return of 12.1% and a 50.00% success rate.

Farfetch Ltd. engages in the provision of technology platform for the luxury fashion industry. It operates through the following segments: Farfetch Marketplace, Farfetch Black and White, Farfetch Store of the Future, and Browns stores. The Farfetch Marketplace runs Farfetch.com website and app. The Farfetch Black and White Solutions relates to white label website solution for luxury brands. The Farfetch Store of the Future delivers technology solutions to retail outlets. The Browns stores involves in management of luxury boutiques. Its products include womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and is headquartered in London, the United Kingdom.

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