Wedbush Lowers Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its target price dropped by equities researchers at Wedbush from $60.00 to $50.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 16.36% from the company’s previous close.

A number of other research firms have also recently commented on W. Royal Bank of Canada decreased their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus decreased their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. UBS Group cut their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Barclays reduced their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Argus cut Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average price target of $64.64.

Wayfair Trading Down 3.3 %

Shares of NYSE W opened at $42.97 on Monday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -8.02 and a beta of 3.42. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm’s 50-day moving average price is $48.78 and its 200-day moving average price is $52.76.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted ($1.27) earnings per share. Wayfair’s revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

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. In related 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 completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,891 shares of company stock worth $2,007,213. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. ORG Partners LLC purchased a new stake in Wayfair in the 1st quarter valued at about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the second quarter valued at $58,000. Comerica Bank raised its stake in Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wayfair during the second quarter worth $109,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wayfair by 39.1% in the first 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 in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.