Loop Capital Cuts Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W - Get Free Report) had its price target dropped by Loop Capital from $55.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Loop Capital's price objective indicates a potential upside of 5.24% from the company's current price.

Several other brokerages have also issued reports on W. Royal Bank of Canada decreased their price target on shares of Wayfair from $53.00 to $50.00 and set a "sector perform" rating on the stock in a report on Monday, November 4th. Bank of America reduced their price objective on Wayfair from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday. Citigroup dropped their price target on shares of Wayfair from $70.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Wedbush downgraded Wayfair from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $45.00 to $44.00 in a report on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on Wayfair from $58.00 to $50.00 and set a "market perform" rating on the stock in a research report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $58.12.

Wayfair Stock Up 3.6 %

Shares of W stock traded up $1.49 during trading hours on Friday, reaching $42.76. The company's stock had a trading volume of 4,678,191 shares, compared to its average volume of 3,790,507. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm's 50 day simple moving average is $46.03 and its 200-day simple moving average is $46.55. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of -10.64 and a beta of 3.43.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Sell-side analysts predict that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity

In other news, COO Thomas Netzer sold 1,039 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the sale, the insider now owns 632,573 shares of the company's stock, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,228 shares of company stock worth $7,830,018 over the last quarter. 23.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently bought and sold shares of the stock. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Wayfair in the 3rd quarter valued at about $29,000. Finally, GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after buying an additional 281 shares in the last quarter. 89.67% of the stock is currently owned by 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.