Analyst Explains Why They Upgraded Their Rating on Stitch Fix (SFIX)


Needham analyst Rick Patel upgraded Stitch Fix (SFIX) to Buy today and set a price target of $36.00. The company’s shares closed last Wednesday at $28.26, close to its 52-week high of $30.44.

According to TipRanks.com, Patel is a 2-star analyst with an average return of 1.0% and a 43.5% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, G-III Apparel Group, and Lululemon Athletica.

Stitch Fix has an analyst consensus of Strong Buy, with a price target consensus of $31.83, implying a 10.1% upside from current levels. In a report issued on September 9, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $34.00 price target.

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The company has a one-year high of $30.44 and a one-year low of $10.90. Currently, Stitch Fix has an average volume of 2.12M.

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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.

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