Stifel Nicolaus Cuts Wayfair (NYSE:W) Price Target to $47.00

Wayfair (NYSE:W) had its target price lowered by Stifel Nicolaus from $55.00 to $47.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on W. Loop Capital increased their price target on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird lowered their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James dropped their price objective on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Down 8.8 %

NYSE W opened at $40.43 on Monday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46. The business’s 50 day moving average is $48.61 and its two-hundred day moving average is $52.11. Wayfair has a 12-month low of $37.60 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.38) EPS. Equities analysts forecast that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on 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 $7,502,054.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,868 shares of company stock valued at $2,003,248. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP lifted its position in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the period. Maverick Capital Ltd. grew its holdings in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Wayfair during the 1st quarter worth $13,690,000. 89.67% of the stock is 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.