Connect with us

Hi, what are you looking for?


Stitch Fix Pops On Several Upgrades Following Results

Stock Markets41 minutes ago (Jun 08, 2021 08:48AM ET)

(C) Reuters.

By Dhirendra Tripathi — Stitch Fix (NASDAQ:SFIX) shares looked set for a positive opening Tuesday after several brokerages upgraded their price target for the stock following its strong sales guidance.

For the fiscal year ending at the end of next month, Stitch estimates net revenue between $2.07 billion-$2.08 billion, a growth of 20.9%-21.5% year-on-year.

Adjusted EBITDA is seen in the range of $25 million to $30 million.

The shares were 14% higher in premarket trading with at least eight brokerages upping targets though the range is wide.

Truist Securities’s $77 target was the highest. At $27, Morgan Stanley’s is the lowest and less than half of the stock’s closing price of $57.94 on Monday.

In Q3, the company booked $536 million in net revenue, reflecting 44% year-over-year growth. Active client count grew to more than 4.1 million, reflecting 20% year-over-year growth and the company’s second highest quarter-over-quarter additions ever.

Net loss of $18.83 million was just over half of $34.68 million for the quarter ended May 2, 2020.

Net revenue per active client fell 3% year-on-year to $481.

Wells Fargo noted that while the narrower-than-expected loss was a vast improvement, sales growth and revenue per client number weren’t impressive. Notwithstanding its reservations, Wells Fargo lifted its one-year target for the stock to $35 from $27.

Stitch Fix Pops On Several Upgrades Following Results

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

World News

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered...

World News

George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases,...


If you parked your car in one of the thousands of parking spots across Calgary, there’s a good chance you paid the Calgary Parking...

World News

Every gambler has their own way. Some people like playing poker, whereas others enjoy the excitement of rotating the wheel. Some people prefer...

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. Copyright © 2021 Your Morning Voice. All Rights Reserved