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

Wayfair (NYSE:W) had its target price reduced by stock analysts at Loop Capital from $60.00 to $50.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price objective would suggest a potential downside of 4.31% from the company’s current price.

Several other analysts have also issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $75.00 target price on shares of Wayfair in a report on Thursday, May 16th. BMO Capital Markets increased their price objective on shares of Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. TD Cowen boosted their target price on shares of Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Truist Financial increased their price target on shares of Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $77.31.

Wayfair Stock Down 0.1 %

Shares of W stock opened at $52.25 on Friday. Wayfair has a 12-month low of $38.37 and a 12-month high of $90.71. The company has a market capitalization of $6.29 billion, a PE ratio of -9.75 and a beta of 3.39. The firm has a 50 day moving average price of $59.27 and a two-hundred day moving average price of $58.63.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. As a group, research analysts expect that Wayfair will post -2.94 EPS for the current year.

Insider Activity

In other news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Fiona Tan sold 5,315 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 3,282 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.10, for a total value of $207,094.20. Following the transaction, the insider now owns 48,322 shares of the company’s stock, valued at approximately $3,049,118.20. The disclosure for this sale can be found here. Insiders sold a total of 65,680 shares of company stock worth $4,164,783 in the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. Capital World Investors grew its stake in Wayfair by 0.9% in the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after purchasing an additional 103,369 shares during the period. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 363,948 shares during the last quarter. Atreides Management LP grew its position in shares of Wayfair by 1.8% during the 3rd quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after acquiring an additional 16,932 shares during the period. Norges Bank purchased a new stake in shares of Wayfair during the 4th quarter worth approximately $47,374,000. Finally, Wellington Management Group LLP lifted its stake in Wayfair by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after purchasing an additional 119,873 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.