I Have Nothing to Wear. Enter Stitch Fix. By Investing.com

I Have Nothing to Wear. Enter Stitch Fix. By Investing.com

By Christiana Sciaudone

Investing.com — We’re coming out and we need something new to wear. 

Stitch Fix (NASDAQ:) jumped 10% after Evercore initiated coverage with a buy-equivalent rating saying the online fashion retailer is a Covid recovery play. 

“Closets need to be restocked,” said analyst Mark Mahaney, according to StreetInsider.

After having very little reason to wear anything but loungewear over the past year, with , it’s time for people to refresh our looks as we hit the outside world again. 

Stitch Fix had rallied to a record in late January, and has tumbled by 50% since then, a dip that investors should take advantage of, Mahaney said. Shares fell after the company missed analyst estimates for results and guidance with its quarterly earnings report from March 9. At the time, Stitch Fix said shipping delays over the holiday season were the reason for weaker revenue.

The analyst sees revenue acceleration for this and next year, adding the stock to its Best SMID Long Term “Core” Ideas. 



Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: