Stitch Fix (NASDAQ:SFIX) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Stitch Fix Stock Performance

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

Insiders Place Their Bets

In related news, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the completion of the transaction, the insider now owns 913,962 shares in the company, valued at $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SFIX has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

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.