Fintel reports that on August 29, 2023, Morgan Stanley downgraded their outlook for Farfetch Ltd – (NYSE:FTCH) from Overweight to Equal-Weight.

Analyst Price Forecast Suggests 226.22% Upside

As of August 2, 2023, the average one-year price target for Farfetch Ltd – is 9.20. The forecasts range from a low of 4.34 to a high of $21.00. The average price target represents an increase of 226.22% from its latest reported closing price of 2.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Farfetch Ltd – is 2,793MM, an increase of 18.80%. The projected annual non-GAAP EPS is -1.05.

What is the Fund Sentiment?

There are 303 funds or institutions reporting positions in Farfetch Ltd -. This is a decrease of 48 owner(s) or 13.68% in the last quarter. Average portfolio weight of all funds dedicated to FTCH is 0.43%, an increase of 56.55%. Total shares owned by institutions decreased in the last three months by 6.68% to 290,940K shares. The put/call ratio of FTCH is 1.23, indicating a bearish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 44,383K shares representing 11.22% ownership of the company. In it’s prior filing, the firm reported owning 44,697K shares, representing a decrease of 0.71%. The firm increased its portfolio allocation in FTCH by 208.36% over the last quarter.

Dragoneer Investment Group holds 33,982K shares representing 8.59% ownership of the company. In it’s prior filing, the firm reported owning 25,710K shares, representing an increase of 24.34%. The firm increased its portfolio allocation in FTCH by 41.79% over the last quarter.

Invesco holds 15,835K shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 13,680K shares, representing an increase of 13.61%. The firm increased its portfolio allocation in FTCH by 1,345.66% over the last quarter.

T. Rowe Price Investment Management holds 8,754K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 9,734K shares, representing a decrease of 11.19%. The firm increased its portfolio allocation in FTCH by 5.12% over the last quarter.

Citadel Advisors holds 8,304K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 2,069K shares, representing an increase of 75.08%. The firm increased its portfolio allocation in FTCH by 434.80% over the last quarter.

Farfetch Background Information
(This description is provided by the company.)

Farfetch Limited is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, Farfetch began as an e-commerce marketplace for luxury boutiques around the world. Today the Farfetch Marketplace connects customers in over 190 countries with items from more than 50 countries and over 1,300 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform. Farfetch’s additional businesses include Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities; Browns and Stadium Goods, which offer luxury products to consumers; and New Guards Group, a platform for the development of global fashion brands. Farfetch also invests in innovations such as its Store of the Future augmented retail solution, and develops key technologies, business solutions, and services for the luxury fashion industry.

This article originally appeared on Fintel

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