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Stitch Fix, Inc. SFIX stock is moving higher Wednesday after the company released better-than-expected quarterly financial earnings and issued fiscal-year guidance above estimates . What To Know: Stitch Fix issued financial earnings for the 2024 fiscal-year third quarter after the market closed on Tuesday.
The company reported EPS at a loss of eighteen cents per share beating analyst estimates of a loss of twenty four cents per share. Also, the company announced sales at $322.70 million coming in ahead of analyst estimates of $306.
12 million. The company’s sales figure represents a 16% year-over-year increase. The company issued guidance for the 2024 fiscal-year fourth quarter and the entire 2024 fiscal-year.
For the next quarter, Stitch Fix sees revenue between $312 million and $322 million versus analyst estimates of $306.57 million. For the 2024 fiscal-year, Stitch Fix expects revenue between $1.
33 billion and $1.34 billion versus analyst estimates of $1.307 billion.
Analyst Changes: Following the financial earnings announcement, two analysts issued price target adjustments. Wedbush analyst Tom Nikic reiterates Stitch Fix with a Neutral and maintains $3 price target. Truist Securities analyst Youssef Squali maintains Stitch Fix with a Hold and raises the price target from $3.
5 to $4. “At Stitch Fix, we are on a mission to help people discover the styles they will love that fit perfectly so they always look and feel their best, and this commitment .
