Wedbush Cuts Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W) had its target price lowered by Wedbush from $50.00 to $45.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on W. Royal Bank of Canada lowered their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus lowered their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday. Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. UBS Group lowered their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Loop Capital boosted their price objective on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Performance

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

Wayfair (NYSE:W) last posted its 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 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 firm earned ($1.38) EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Wayfair will post -2.68 EPS for the current year.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,868 shares of company stock worth $2,003,248 in the last three months. 26.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in Wayfair during the 3rd quarter valued at approximately $29,000. ORG Partners LLC purchased a new position in shares of Wayfair in the 1st quarter valued at approximately $37,000. International Assets Investment Management LLC purchased a new position in shares of Wayfair in the 2nd quarter valued at approximately $58,000. Comerica Bank boosted its position in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after purchasing an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Wayfair in the second quarter worth $109,000. 89.67% of the stock is owned by 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.