Stitch Fix Stock Surges After Analyst Reaffirms 'Market Perform' Rating

Stitch Fix's (SFIX) shares jumped 3.8% after Telsey Advisory Group reaffirmed a "Market Perform" rating and kept the price target at $6.00. The decision not to downgrade the stock provided stability and encouraged buying activity. The shares cooled down to $4.55, up 3.5% from the previous close. Stitch Fix's shares have been volatile, with 45 moves greater than 5% over the last year, but the current move suggests investors consider this news meaningful. The stock is up 4% this year, but still trading 31.6% below its 52-week high.