Wayfair (NYSE:W) Downgraded to “Neutral” Rating by Wedbush

Wedbush downgraded shares of Wayfair (NYSE:W) from an outperform rating to a neutral rating in a research report released on Monday morning, Marketbeat reports. Wedbush currently has $44.00 price objective on the stock, down from their prior price objective of $45.00.

Several other analysts also recently issued reports on W. Loop Capital boosted their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Wayfair in a research note on Friday, November 1st. Robert W. Baird reduced their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Citigroup decreased their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. Fourteen 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Wayfair Stock Up 6.2 %

Shares of NYSE W opened at $48.34 on Monday. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -10.77 and a beta of 3.43. The business has a fifty day simple moving average of $45.18 and a 200-day simple moving average of $47.74.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company posted ($1.38) earnings per share. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Wayfair will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the transaction, the insider now owns 602,573 shares in the company, valued at approximately $27,567,714.75. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,036 shares of company stock worth $4,551,431 over the last ninety days. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in shares of 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 buying an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP raised its stake in 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 acquiring an additional 432,404 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after acquiring an additional 35,268 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Wayfair in the 3rd quarter valued at $78,652,000. Finally, Holocene Advisors LP grew its holdings in shares of Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. 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.