Shares of Stitch Fix were higher after analysts at Stifel Nicolaus upgraded their rating and maintained their price target on the stock at $35, noting that the company's recently weakened stock price is "an attractive entry point."
Stick Fitch stock was up 1.2% at $27.22 in trading on the Nasdaq Stock Market. The stock is up 59% year to date.
While the total number of customers has been somewhat static, repeat customers who are returning to purchase additional colors and styles of current products or shopping for new items has been on the rise, Stifel said in a research note to clients.
Stitch Fix now offers greater personalization of monthly boxes through its Style Shuffle and has begun to focus on attracting higher quality customers which will help bolster its client base, Stifel said. It has also been focusing on growing its men's business, which has been making strides since its 2017 launch.