Truist Financial Cuts Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price target cut by Truist Financial from $60.00 to $55.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. UBS Group dropped their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Mizuho cut their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday. Citigroup reduced their price target on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

Shares of Wayfair stock opened at $40.43 on Monday. The firm has a 50 day simple moving average of $48.61 and a 200 day simple moving average of $52.11. Wayfair has a fifty-two week low of $37.60 and a fifty-two week high of $76.18. The firm has a market cap of $4.99 billion, a P/E ratio of -9.00 and a beta of 3.46.

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

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 6,055 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total value of $321,338.85. Following the sale, the insider now owns 62,817 shares in the company, valued at approximately $3,333,698.19. 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 this link. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Blotner sold 6,055 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total value of $321,338.85. Following the sale, the insider now owns 62,817 shares in the company, valued at approximately $3,333,698.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,868 shares of company stock worth $2,003,248. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC raised its stake in Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after buying an additional 271 shares during the period. Creative Planning boosted its stake in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after acquiring an additional 272 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Wayfair by 12.0% during the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after acquiring an additional 399 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after acquiring an additional 471 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Wayfair during the 3rd quarter valued at $29,000. 89.67% of the stock is owned by institutional investors.

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.