Why Stitch Fix Stock Surged 19% in October
Shares of Stitch Fix (NASDAQ: SFIX) gained 18.8% in value last month, according to data provided by S&P Global Market Intelligence. The stock has been volatile over the last year, but the company's fiscal fourth-quarter earnings report at the beginning of October gave investors something to cheer about.
Most importantly, the earnings results showed stabilization in active client growth, which had been decelerating earlier in the year. Overall, revenue met analysts' expectations, climbing 36% year over year to $432.1 million. Earnings per share of $0.07 in the quarter beat analysts' estimates by $0.03.
Image source: Stitch Fix.
Source Fool.com
