Shares of luxury fashion technology platform Farfetch Limited (NYSE:FTCH) collapsed over 32% in today’s trading session after the company provided guidance. Management offered the following projections:
- Gross merchandise value (GMV) growth of 20% to 22% in Fiscal Year 2023 to $4.9 billion.
- The growth is expected to be attributable to an 8% to 10% growth of the underlying business and $500 million worth of signed partnerships.
- Adjusted EBITDA margin of 1% to 3%.
- $10 billion worth of GMV by Fiscal Year 2025 with revenue of $3.5 billion.
Overall, Wall Street analysts have a consensus price target of $15.19 on FTCH stock, implying over 166% upside potential, as indicated by the graphic above.
