Wayfair (NYSE:W) Price Target Lowered to $50.00 at Wedbush

by · The Markets Daily

Wayfair (NYSE:W – Get Free Report) had its price target decreased by equities research analysts at Wedbush from $60.00 to $50.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 11.19% from the company’s previous close.

Several other research analysts have also weighed in on the company. Barclays lowered their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Wednesday, October 23rd. Stifel Nicolaus lowered their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup cut their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.64.

Read Our Latest Research Report on Wayfair

Wayfair Stock Performance

Shares of W stock traded up $0.58 on Monday, reaching $44.97. 1,688,555 shares of the company were exchanged, compared to its average volume of 4,245,574. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The business has a 50-day moving average price of $48.77 and a 200 day moving average price of $52.89. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -8.48 and a beta of 3.42.

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

Insiders Place Their Bets

In related news, COO Thomas Netzer sold 1,011 shares of the company’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 owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of Wayfair 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 sale, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,891 shares of company stock valued at $2,007,213 in the last ninety days. Insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares during the period. Wolf Hill Capital Management LP boosted its stake in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares during the period. Vanguard Group Inc. boosted its stake in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Maverick Capital Ltd. grew its holdings in shares of Wayfair by 46.2% during the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Wayfair during the 1st quarter worth approximately $13,690,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Company Profile

(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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