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Weak Fundamental Momentum Sinks Farfetch Limited

Farfetch Limited (NYSE:FTCH) has a beta value of 2.88 and has seen 17.08 million shares traded in the last trading session. The company, currently valued at $2.32B, closed the last trade at $6.46 per share which meant it gained $0.17 on the day or 2.70% during that session. The FTCH stock price is -261.15% off its 52-week high price of $23.33 and 43.65% above the 52-week low of $3.64. If we look at the company’s 10-day average daily trading volume, we find that it stood at 16.16 million shares traded. The 3-month trading volume is 16.24 million shares.

The consensus among analysts is that Farfetch Limited (FTCH) is an Overweight stock at the moment, with a recommendation rating of 2.30. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 8 out of 21 have rated it as a Hold, with 11 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.27.

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Farfetch Limited (NYSE:FTCH) trade information

Sporting 2.70% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the FTCH stock price touched $6.46 or saw a rise of 3.15%. Year-to-date, Farfetch Limited shares have moved 36.58%, while the 5-day performance has seen it change 12.74%. Over the past 30 days, the shares of Farfetch Limited (NYSE:FTCH) have changed 63.96%. Short interest in the company has seen 26.22 million shares shorted with days to cover at 3.05.

Wall Street analysts have a consensus price target for the stock at $10.81, which means that the shares’ value could jump 40.24% from current levels. The projected low price target is $5.40 while the price target rests at a high of $20.00. In that case, then, we find that the current price level is -209.6% off the targeted high while a plunge would see the stock lose 16.41% from current levels.

Farfetch Limited (FTCH) estimates and forecasts

Figures show that Farfetch Limited shares have outperformed across the wider relevant industry. The company’s shares have lost -22.73% over the past 6 months, with this year growth rate of 12.15%, compared to -17.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -92.90% and -466.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 7.40%.

13 analysts offering their estimates for the company have set an average revenue estimate of $600.33 million for the current quarter. 13 have an estimated revenue figure of $737.04 million for the next quarter concluding in Dec 2022. Year-ago sales stood $582.57 million and $665.65 million respectively for this quarter and the next, and analysts expect sales will grow by 3.00% for the current quarter and 10.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 67.50% over the past 5 years.

FTCH Dividends

Farfetch Limited is expected to release its next earnings report on August 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Farfetch Limited (NYSE:FTCH)’s Major holders

Insiders own 2.05% of the company shares, while shares held by institutions stand at 92.38% with a share float percentage of 94.32%. Investors are also buoyed by the number of investors in a company, with Farfetch Limited having a total of 357 institutions that hold shares in the company. The top two institutional holders are Morgan Stanley with over 37.17 million shares worth more than $266.17 million. As of Jun 29, 2022, Morgan Stanley held 11.00% of shares outstanding.

The other major institutional holder is Baillie Gifford and Company, with the holding of over 34.83 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $249.37 million and represent 10.31% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Trust for Advised Port-Miller Opportunity Trust and Vanguard Explorer Fund, Inc. As of Sep 29, 2022, the former fund manager holds about 1.48% shares in the company for having 5.0 million shares of worth $37.25 million while later fund manager owns 4.12 million shares of worth $32.75 million as of Jul 30, 2022, which makes it owner of about 1.22% of company’s outstanding stock.

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