Loop Capital Increases Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price upped by Loop Capital from $50.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts have also recently commented on the company. Mizuho cut their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Piper Sandler reduced their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Wedbush cut their price objective on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus reduced their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Down 3.3 %

Shares of W opened at $50.56 on Monday. The firm’s fifty day moving average is $46.93 and its two-hundred day moving average is $48.92. The stock has a market cap of $6.34 billion, a PE ratio of -11.50 and a beta of 3.44. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data 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 business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company posted ($1.38) EPS. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts anticipate that Wayfair will post -2.91 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,857 shares of company stock worth $4,816,784 over the last 90 days. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently made changes to their positions in W. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair during the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair during the 3rd quarter worth $44,000. Brooklyn Investment Group purchased a new position in Wayfair during the 3rd quarter worth $50,000. International Assets Investment Management LLC acquired a new stake in shares of Wayfair in the 2nd quarter worth $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Wayfair in the third quarter valued at about $67,000. 89.67% of the stock is 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.