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

Stitch Fix (NASDAQ:SFIX) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share (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 company had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. Stitch Fix’s revenue for the quarter was down 12.6% compared to the same quarter last year.

Stitch Fix Stock Performance

Shares of Stitch Fix stock traded up $0.02 during trading on Tuesday, reaching $4.60. The company’s stock had a trading volume of 7,994,630 shares, compared to its average volume of 1,892,090. The firm has a market cap of $583.45 million, a price-to-earnings ratio of -4.24 and a beta of 1.99. The business’s fifty day moving average price is $3.53 and its 200-day moving average price is $3.67. Stitch Fix has a one year low of $2.06 and a one year high of $5.05.

Wall Street Analyst Weigh In

Several brokerages recently commented on SFIX. UBS Group upped their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their price objective on Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.57.

About Stitch Fix

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.