Several analysts lowered the price target on Stitch Fix Inc (NASDAQ:SFIX) following the release of the company's Q1 FY22 results. The company's Q1 results topped Street view but provided a downbeat Q2 outlook.

• KeyBanc analyst Edward Yruma downgraded o Sector Weight from Overweight without a price target. The analyst sees limited visibility following the fiscal Q1 results.
• Yruma said freestyle remains the key total addressable market "unlock" for the business, but it will take time and effort to ramp.
• He viewed Stitch Fix's 15,000 quarter-over-quarter net additions as disappointing and said they will likely to act as a headwind.
• Evercore ISI analyst Mark Mahaney downgraded Stitch Fix to In Line from Outperform with a price target of $24, down from $68, suggesting 4% downside, following Q1 results.
• Piper Sandler analyst Erinn Murphy lowered the firm's price target to $22 from $46 and kept a Neutral rating on the shares.
• Barclays analyst Ross Sandler lowered the firm's price target to $22 from $37 and kept an Equal Weight rating on the shares, implying an 11.9% downside, following the results.
• Sandler said the Stitch Fix story "is coming up a tad short as it reaches the major milestone of introducing traditional e-commerce (Freestyle) and moving away from its stylist box-club roots."
• Baird analyst Mark Altschwager lowered the price target on Stitch Fix to $25 from $52 and kept a Neutral rating on the shares.
• The analyst said while Q1 results mostly met expectations, a material downward revision to growth expectations reinforces that the company's transformation to "Stitch Fix 2.0" will be bumpy.
• Canaccord analyst Maria Ripps lowered the firm's price target on Stitch Fix to $38 from $50 and kept a Buy rating on the shares.
• Telsey Advisory Group analyst Dana Telsey maintained Stitch Fix with an Outperform and lowered the price target from $55 to $40, suggesting a 60% upside.
• Price Action: SFIX shares are trading lower by 24.3% at $18.91 in premarket on the last check Wednesday.