Farfetch Stock Is Shooting Higher: Here's Why
Portfolio Pulse from Lekha Gupta
Farfetch Ltd (NYSE:FTCH) reported Q1 2023 sales growth of 8% Y/Y to $556.4 million, beating the consensus of $512.7 million. GMV remained flat Y/Y at $931.7 million. The company expects a GMV of around $4.9 billion for 2023. Analysts remain divided over the company's prospects, with some raising price targets while others maintain a neutral stance.

May 19, 2023 | 4:45 pm
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Farfetch reported Q1 2023 sales growth of 8% Y/Y, beating consensus. Analysts remain divided on the company's prospects, with some raising price targets while others maintain a neutral stance.
Farfetch's Q1 2023 sales growth beat consensus, which is a positive sign for the company. However, analysts remain divided on the company's prospects, with some raising price targets while others maintain a neutral stance. This indicates that there is still uncertainty surrounding the company's future performance, but the positive earnings report is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100