Wayfair (NYSE:W) Given New $50.00 Price Target at Loop Capital

Wayfair (NYSE:W) had its price objective reduced by Loop Capital from $60.00 to $50.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently commented on W. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. BMO Capital Markets boosted their price target on shares of Wayfair from $57.00 to $61.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. Argus upgraded shares of Wayfair from a hold rating to a buy rating and set a $83.00 price target on the stock in a research report on Thursday, May 16th. TD Cowen boosted their price target on shares of Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Finally, Citigroup lifted their price target on Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $77.31.

Wayfair Stock Down 0.1 %

Shares of NYSE W opened at $52.23 on Friday. Wayfair has a fifty-two week low of $38.37 and a fifty-two week high of $90.71. The firm’s 50-day simple moving average is $59.27 and its 200 day simple moving average is $58.61. The stock has a market cap of $6.29 billion, a P/E ratio of -9.74 and a beta of 3.39.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.11. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. On average, sell-side analysts anticipate that Wayfair will post -2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 3,282 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the transaction, the insider now owns 48,322 shares in the company, valued at $3,049,118.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wayfair news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 3,282 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the sale, the insider now directly owns 48,322 shares of the company’s stock, valued at approximately $3,049,118.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,680 shares of company stock worth $4,164,783. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in Wayfair by 0.9% during the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the period. Vanguard Group Inc. boosted its position in shares of 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. Atreides Management LP boosted its position in shares of Wayfair by 1.8% in the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after acquiring an additional 16,932 shares during the period. Norges Bank bought a new stake in shares of Wayfair in the fourth quarter valued at approximately $47,374,000. Finally, Wellington Management Group LLP boosted its position in shares of Wayfair by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after acquiring an additional 119,873 shares during the period. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.