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

Wayfair (NYSE:W) had its target price trimmed by Wedbush from $60.00 to $50.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

W has been the subject of several other reports. Loop Capital increased their target price on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Citigroup dropped their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. The Goldman Sachs Group dropped their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Raymond James lowered their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.64.

Wayfair Trading Down 0.7 %

W opened at $42.65 on Monday. The stock has a 50-day moving average price of $48.80 and a 200-day moving average price of $52.64. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The stock has a market capitalization of $5.27 billion, a P/E ratio of -7.96 and a beta of 3.42.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.27) EPS. On average, equities research analysts predict that Wayfair will post -2.68 EPS for the current year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 6,055 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the transaction, the insider now owns 62,817 shares of the company’s stock, valued at $3,333,698.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wayfair news, insider Jon Blotner sold 6,055 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total transaction of $321,338.85. Following the sale, the insider now directly owns 62,817 shares in the company, valued at approximately $3,333,698.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now 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 disclosure for this sale can be found here. Insiders sold a total of 37,891 shares of company stock valued at $2,007,213 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Wayfair by 4.5% during the 1st 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 last quarter. SageView Advisory Group LLC purchased a new position in shares of Wayfair in the 1st quarter worth $937,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wayfair by 250.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Wayfair by 14.6% in the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after buying an additional 12,809 shares during the last quarter. Finally, Highland Peak Capital LLC purchased a new position in shares of Wayfair in the 2nd quarter worth $5,165,000. 89.67% of the stock is currently 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.