BMO Capital Markets Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its target price lowered by BMO Capital Markets from $58.00 to $50.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

W has been the topic of a number of other research reports. Gordon Haskett cut shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Piper Sandler decreased their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Wayfair in a research note on Thursday, September 26th. Finally, Citigroup cut their price target on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Price Performance

NYSE W opened at $40.43 on Monday. Wayfair has a 1 year low of $37.60 and a 1 year high of $76.18. The company has a market capitalization of $4.99 billion, a PE ratio of -9.00 and a beta of 3.46. The company has a fifty day moving average of $48.61 and a 200 day moving average of $52.11.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm earned ($1.38) EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts expect that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other 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 in the company, valued at $4,491,794.30. The trade was 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 other Wayfair news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,868 shares of company stock worth $2,003,248. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in Wayfair by 18.3% in the third quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock valued at $536,000 after acquiring an additional 1,479 shares during the last quarter. Entropy Technologies LP raised its position in Wayfair by 33.4% in the third quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock valued at $1,767,000 after purchasing an additional 7,884 shares during the period. State of New Jersey Common Pension Fund D raised its position in Wayfair by 24.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock valued at $2,505,000 after purchasing an additional 8,675 shares during the period. River Global Investors LLP lifted its stake in shares of Wayfair by 3.9% in the 3rd quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock valued at $1,534,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.