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

Stitch Fix (NASDAQ:SFIX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06, Briefing.com reports. The company had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) earnings per share.

Stitch Fix Price Performance

Shares of Stitch Fix stock traded up $0.09 during trading hours on Tuesday, hitting $4.23. 5,310,936 shares of the company's stock traded hands, compared to its average volume of 2,306,679. The stock 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 12-month low of $2.06 and a 12-month high of $6.99. The company has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $4.08.

Wall Street Analyst Weigh In

SFIX has been the topic of several recent analyst reports. Canaccord Genuity Group raised their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. UBS Group increased their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $6.00 price target on shares of Stitch Fix in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, Stitch Fix currently has a consensus rating of "Hold" and a consensus price target of $4.50.

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Insider Buying and Selling

In related news, insider Anthony Bacos sold 16,720 shares of Stitch Fix stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the sale, the insider now owns 913,962 shares of the company's stock, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katrina Lake sold 725,002 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is owned by insiders.

Stitch Fix Company Profile

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.

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