Wedbush Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

by · The Cerbat Gem

Wayfair (NYSE:W – Get Free Report) had its target price reduced by analysts at Wedbush from $50.00 to $45.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 1.42% from the stock’s previous close.

Several other research firms also recently commented on W. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday. Barclays decreased their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Raymond James reduced their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup dropped their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Check Out Our Latest Stock Analysis on Wayfair

Wayfair Trading Up 5.8 %

Shares of W opened at $44.37 on Monday. The company’s 50 day simple moving average is $48.65 and its 200-day simple moving average is $52.20. The firm has a market cap of $5.48 billion, a PE ratio of -9.88 and a beta of 3.46. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18.

Wayfair (NYSE:W – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the business posted ($1.38) earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Wayfair will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,868 shares of company stock worth $2,003,248. Insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in Wayfair in the 3rd quarter valued at about $29,000. ORG Partners LLC acquired a new stake in shares of Wayfair in the first quarter worth approximately $37,000. International Assets Investment Management LLC purchased a new stake in Wayfair in the second quarter valued at approximately $58,000. Comerica Bank increased its position in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair during the second quarter worth approximately $109,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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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