Evercore ISI analyst Mark Mahaney lowered the firm’s price target on Stitch Fix to $6 from $7 and keeps an In Line rating on the shares following the company’s "mixed" fiscal Q1 report and guidance. The "good news" is management’s laser focus on achieving EBITDA profitability, but the "bad news" is that the company has yet to demonstrate a clear path of recovery in revenue and active customers growth, said Mahaney, who is more cautious on Stitch Fix following the quarterly report.
Published first on TheFly
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Read More on SFIX:
- Stitch Fix price target lowered to $4 from $5 at Barclays
- Here’s Why Stitch Fix (NASDAQ:SFIX) Stock Fell Yesterday
- Stitch Fix says will reduce marketing in back half of the year
- Stitch Fix cuts FY23 revenue view to $1.6B-$1.7B from $1.76B-$1.86B
- Stitch Fix sees Q2 revenue $410M-$420M, consensus $444.96M
