Stitch Fix Inc (SFIX) received a Buy rating and a $35 price target from Stifel Nicolaus analyst Scott Devitt today. The company’s shares opened today at $26.98.
Devitt said:
“We believe Amazon’s offering creates more awareness for personal styling services and somewhat validates the category. Stitch Fix faces competition from a number of players offering personal styling services from online operators, retailers, and brands. We believe the company’s data science capabilities and brand access are key competitive advantages versus Amazon and other emerging players.”
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.3% and a 71.7% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies Inc, and Eventbrite Inc.
Stitch Fix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $37, which is a 37.1% upside from current levels. In a report issued on July 22, Goldman Sachs also upgraded the stock to Buy with a $38 price target.
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Based on Stitch Fix Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $7.05 million. In comparison, last year the company had a net profit of $9.46 million.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock.
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Stitch Fix, Inc. is an online personal styling service that delivers personalized Fixes of apparel and accessories to men, women and kids. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.
