Shares of StitchFix (NASDAQ:SFIX) fell in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at -$0.58, which missed analysts’ consensus estimate of -$0.34 per share.
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Sales decreased by 20.2% year-over-year, with revenue hitting $412.12 million. This missed analysts’ expectations of $412.94 million.
Looking forward, management now expects revenue for Q3 2023 to be in the range of $385 million to $395 million. For reference, analysts were expecting $394.91 million in revenue.
Overall, Wall Street has a consensus price target of $4.52 on SFIX stock, implying 9.05% downside risk, as indicated by the graphic above.