Robert W. Baird Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its target price lowered by Robert W. Baird from $56.00 to $50.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

W has been the topic of several other research reports. Loop Capital increased their price objective on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Truist Financial dropped their price target on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Piper Sandler cut 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. Argus cut Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Raymond James cut their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Down 8.8 %

Wayfair stock opened at $40.43 on Monday. Wayfair has a 12 month low of $37.60 and a 12 month high of $76.18. The stock has a fifty day simple moving average of $48.61 and a two-hundred day simple moving average of $52.11. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company 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 earned ($1.38) EPS. The business’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 approximately $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 4,600 shares of Wayfair 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 sale, the insider now 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. In the last quarter, insiders sold 37,868 shares of company stock worth $2,003,248. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Wayfair by 0.9% during the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after purchasing an additional 103,369 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares during the period. Renaissance Technologies LLC boosted its position in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP grew 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 purchasing an additional 432,404 shares during the last quarter. Finally, Maverick Capital Ltd. raised its stake in shares of Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.