Wayfair (NYSE:W) Price Target Cut to $55.00

Wayfair (NYSE:W) had its price objective cut by Stifel Nicolaus from $56.00 to $55.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on W. Barclays dropped their target price on shares of Wayfair from $60.00 to $58.00 and set an equal weight rating for the company in a research report on Friday, July 26th. StockNews.com cut shares of Wayfair from a hold rating to a sell rating in a research report on Sunday, June 23rd. Truist Financial lowered their price target on shares of Wayfair from $70.00 to $60.00 and set a buy rating for the company in a research report on Friday. Bank of America cut shares of Wayfair from a buy rating to a neutral rating and decreased their price objective for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Finally, Argus upgraded shares of Wayfair from a hold rating to a buy rating and set a $83.00 price objective for the company in a report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wayfair presently has a consensus rating of Moderate Buy and a consensus target price of $68.92.

Wayfair Stock Performance

Shares of W opened at $44.37 on Friday. Wayfair has a 52 week low of $38.37 and a 52 week high of $85.82. The company has a market capitalization of $5.34 billion, a PE ratio of -8.28 and a beta of 3.43. The company’s 50 day moving average price is $53.95 and its 200 day moving average price is $57.26.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.27) earnings per share. On average, equities analysts forecast that Wayfair will post -2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Steven Conine sold 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now directly owns 219,073 shares in the company, valued at approximately $12,441,155.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,102 shares of company stock valued at $2,644,559. 26.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in W. Capital World Investors increased its holdings in Wayfair by 0.9% in the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after acquiring an additional 103,369 shares during the last quarter. Vanguard Group Inc. increased its holdings in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. Norges Bank purchased a new stake in Wayfair in the 4th quarter worth about $47,374,000. Wellington Management Group LLP increased its holdings in Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Wayfair by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock worth $41,595,000 after acquiring an additional 39,545 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.