Stifel Nicolaus Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price target cut by equities researchers at Stifel Nicolaus from $47.00 to $46.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 9.75% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets dropped their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Mizuho dropped their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Wayfair in a research report on Friday. Robert W. Baird dropped their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial cut their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $58.40.

Wayfair Stock Down 9.0 %

NYSE W opened at $41.92 on Friday. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The company has a 50 day moving average price of $46.22 and a two-hundred day moving average price of $46.51. The stock has a market capitalization of $5.25 billion, a PE ratio of -10.43 and a beta of 3.43.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. As a group, equities analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock valued at $7,830,018 in the last ninety days. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of the stock. J.Safra Asset Management Corp increased its holdings in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Creative Planning lifted its holdings in Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after buying an additional 272 shares in the last quarter. GAMMA Investing LLC boosted its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. 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.