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SAN FRANCISCO - Stitch Fix (NASDAQ:SFIX), whose stock has surged nearly 50% over the past six months despite recent volatility, unveiled Stitch Fix Vision, an AI-powered style visualization tool now in beta, according to a Monday press release from the online personal styling service. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value estimate.
The new feature allows clients to receive personalized images of themselves styled in various outfits based on their preferences and current fashion trends. Users upload a selfie and full-length photo through the Stitch Fix app, after which they receive weekly style recommendations displayed in different environments.
"Vision delivers on both, providing first-of-its-kind personal style visualization and inspiration," said Tony Bacos, Chief Product and Technology Officer at Stitch Fix. "It is an entirely new approach to style discovery."
The tool leverages the company’s proprietary algorithms and client data to generate shoppable outfit recommendations. Users can purchase items directly through the images or request them in their next Fix delivery.
Stitch Fix also announced additional features including Stylist Connect, a two-way communication platform between clients and stylists available in the iOS app, and Family Accounts, which allows clients to manage styling services for their entire household from a single account.
The company has expanded its product offerings with new holiday-themed collections and added brands including Favorite Daughter and Alex Mill for women, and Pendleton and Madewell for men.
Stitch Fix, founded in 2011, combines human stylists with AI technology to provide personalized clothing recommendations to clients.
In other recent news, Stitch Fix reported its fourth-quarter earnings, with an earnings per share (EPS) of -0.07, exceeding the forecasted -0.1. The company also surpassed revenue expectations, reporting $311.2 million, which is a 2.14% increase over the projected $304.69 million. Bernstein responded to this revenue growth by raising its price target for Stitch Fix from $4.50 to $6.00, maintaining a Market Perform rating. UBS maintained a Neutral rating with a $6.00 price target, acknowledging revenue growth but expressing concerns over gross margins. Mizuho kept its Underperform rating and $3.00 price target, noting progress in the company’s turnaround efforts and the potential of new AI tools in the apparel sector. These developments reflect ongoing changes and challenges for Stitch Fix in the market.
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