Deutsche Bank Aktiengesellschaft Cuts Wayfair (NYSE:W) Price Target to $46.00

Wayfair (NYSE:W) had its price target lowered by Deutsche Bank Aktiengesellschaft from $69.00 to $46.00 in a research note issued to investors on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. UBS Group cut their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. BMO Capital Markets lowered their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday. Royal Bank of Canada cut their target price on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Finally, Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. 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 given a strong buy rating to the company. According to MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Down 8.8 %

Wayfair stock opened at $40.43 on Monday. The firm has a fifty day simple moving average of $48.61 and a two-hundred day simple moving average of $52.11. Wayfair has a twelve month low of $37.60 and a twelve month high of $76.18. The company has a market capitalization of $4.99 billion, a PE ratio of -9.00 and a beta of 3.46.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the company earned ($1.38) earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. 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 related news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,868 shares of company stock valued at $2,003,248 in the last ninety days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wayfair by 250.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after purchasing an additional 119,415 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Wayfair by 118.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after acquiring an additional 9,108 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after acquiring an additional 471 shares during the last quarter. Signaturefd LLC grew its stake in shares of Wayfair by 1.3% in the first quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock worth $14,016,000 after acquiring an additional 2,714 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Wayfair during the first quarter valued at approximately $37,000. 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.