Wayfair (NYSE:W) Price Target Lowered to $55.00 at Truist Financial

Wayfair (NYSE:W) had its target price lowered by Truist Financial from $60.00 to $55.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on W. Robert W. Baird decreased their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday. Guggenheim restated a “buy” rating and set a $70.00 target price on shares of Wayfair in a research report on Thursday, September 26th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Wedbush cut their price target on Wayfair from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Down 8.8 %

Shares of NYSE:W opened at $40.43 on Monday. The stock has a market cap of $4.99 billion, a PE ratio of -9.00 and a beta of 3.46. Wayfair has a 12-month low of $37.60 and a 12-month high of $76.18. The business has a 50 day moving average of $48.61 and a 200-day moving average of $52.11.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the firm earned ($1.38) earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts expect that Wayfair will post -2.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,600 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of Wayfair 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 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. Over the last quarter, insiders have sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is currently owned by insiders.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP acquired a new position in Wayfair during the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Wayfair in the first quarter valued at about $37,000. International Assets Investment Management LLC bought a new position in shares of Wayfair during the second quarter worth about $58,000. Comerica Bank lifted its stake in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Wayfair by 39.1% in the first 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. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.