Stitch Fix Shares Jump On Solid Q1 Beat, Transformation Efforts Take Hold: Analyst
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Shares of Stitch Fix Inc (NASDAQ:SFIX) spiked in early trading on Wednesday, after the company reporting upbeat fiscal first-quarter results.
Stitch Fix reported a “solid beat,” with fiscal first-quarter adjusted EBITDA of $13.5 million, ahead of the consensus of $7.4 million, according to Telsey Advisory Group.
The Stitch Fix Rating: Analyst Dana Telsey maintained a Market Perform rating, while raising the price target from $4 to $6.
The Stitch Fix Thesis: The company achieved a “broad-based outperformance,” with sales, gross margins, and expenses coming in better than …
Full story available on Benzinga.com
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