Stitch Fix (NASDAQ:SFIX) Announces Quarterly Earnings Results

Stitch Fix (NASDAQ:SFIX) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06, Briefing.com reports. The business had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted ($0.29) EPS.

Stitch Fix Price Performance

NASDAQ:SFIX traded up $0.09 during trading hours on Tuesday, hitting $4.23. 6,374,346 shares of the company were exchanged, compared to its average volume of 2,307,278. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $6.99. The stock has a market capitalization of $536.52 million, a price-to-earnings ratio of -5.10 and a beta of 2.13. The company’s 50 day moving average price is $4.86 and its 200-day moving average price is $4.08.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group lifted their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.50.

Insiders Place Their Bets

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the transaction, the insider now directly owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.95% of the company’s stock.

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.