Wayfair (NYSE:W) Given New $50.00 Price Target at JPMorgan Chase & Co.

Wayfair (NYSE:W) had its price target reduced by JPMorgan Chase & Co. from $63.00 to $50.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

W has been the topic of a number of other reports. Royal Bank of Canada reduced their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Truist Financial cut their price target on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Wayfair in a research report on Friday, February 21st. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, Canaccord Genuity Group cut their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Stock Down 4.4 %

Shares of NYSE:W opened at $33.47 on Monday. The firm has a market cap of $4.25 billion, a P/E ratio of -8.32 and a beta of 3.44. Wayfair has a 12-month low of $32.41 and a 12-month high of $76.18. The business has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $46.20.

Wayfair (NYSE:W) last issued its quarterly earnings data 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities research analysts expect that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated 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 transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,228 shares of company stock worth $6,235,818. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC grew its position in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp increased its stake in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Wayfair by 577.0% in the 4th 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. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair in the 3rd quarter valued at about $29,000. Finally, GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.