UBS Group Lowers Wayfair (NYSE:W) Price Target to $65.00

by · The Cerbat Gem

Wayfair (NYSE:W – Get Free Report) had its price target cut by equities researchers at UBS Group from $70.00 to $65.00 in a report issued on Tuesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 40.00% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their target price on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Finally, Barclays lowered their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.80.

Read Our Latest Stock Analysis on Wayfair

Wayfair Stock Performance

Shares of W traded down $0.91 during trading hours on Tuesday, hitting $46.43. The stock had a trading volume of 1,781,815 shares, compared to its average volume of 4,250,622. The company’s fifty day simple moving average is $48.51 and its 200 day simple moving average is $53.40. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market cap of $5.59 billion, a P/E ratio of -8.70 and a beta of 3.42.

Wayfair (NYSE:W – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.27) earnings per share. As a group, sell-side analysts predict that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,891 shares of company stock valued at $2,007,213. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Signaturefd LLC boosted its stake in Wayfair by 56.4% in the 3rd quarter. Signaturefd LLC now owns 321,098 shares of the company’s stock worth $18,039,000 after purchasing an additional 115,778 shares during the period. Creative Planning grew its stake in Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares in the last quarter. CWM LLC grew its stake in Wayfair by 91.4% during the 3rd quarter. CWM LLC now owns 4,981 shares of the company’s stock valued at $280,000 after acquiring an additional 2,378 shares in the last quarter. Chemistry Wealth Management LLC increased its holdings in shares of Wayfair by 7.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 35,249 shares of the company’s stock valued at $1,980,000 after purchasing an additional 2,569 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Wayfair by 30.8% in the third quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock worth $1,433,000 after purchasing an additional 6,000 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

(Get Free Report)

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.

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