Deutsche Bank Aktiengesellschaft Cuts Wayfair (NYSE:W) Price Target to $46.00

Wayfair (NYSE:W) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $69.00 to $46.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird reduced their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. UBS Group reduced their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Loop Capital lifted their target price on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday, November 1st. Finally, Guggenheim restated a “buy” rating and set a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

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 price-to-earnings ratio of -9.00 and a beta of 3.46. The firm’s fifty day moving average price is $48.61 and its two-hundred day moving average price is $52.11.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Wayfair will post -2.68 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value 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. This 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, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after acquiring an additional 103,369 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wayfair by 28.0% during 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 last quarter. Wolf Hill Capital Management LP boosted its holdings in shares of Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in shares of Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after purchasing an additional 227,908 shares in the last quarter. 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.