Wayfair (NYSE:W - Get Free Report) had its target price cut by stock analysts at Truist Financial from $53.00 to $36.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 36.16% from the stock's previous close.
Several other brokerages have also recently commented on W. JPMorgan Chase & Co. decreased their price target on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Loop Capital decreased their target price on Wayfair from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, February 21st. Piper Sandler set a $58.00 target price on Wayfair and gave the stock an "overweight" rating in a research note on Friday, February 21st. Bank of America reduced their price target on Wayfair from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $52.92.
Check Out Our Latest Research Report on W
Wayfair Stock Down 2.7 %
NYSE W traded down $0.73 on Thursday, reaching $26.44. The stock had a trading volume of 1,750,266 shares, compared to its average volume of 4,607,120. The stock has a fifty day moving average price of $36.06 and a two-hundred day moving average price of $43.19. Wayfair has a 12-month low of $20.41 and a 12-month high of $76.18. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -6.58 and a beta of 3.72.
Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) 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 analysts' expectations of $3.07 billion. Sell-side analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.
Insider Buying and Selling at Wayfair
In other news, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares of the company's stock, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,863 shares of company stock valued at $4,847,429 in the last ninety days. Insiders own 26.81% of the company's stock.
Institutional Trading of Wayfair
A number of institutional investors have recently added to or reduced their stakes in W. Vanguard Group Inc. grew its stake in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after acquiring an additional 327,603 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Wayfair during the 4th quarter worth approximately $6,799,000. Nisa Investment Advisors LLC lifted its stake in Wayfair by 5.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company's stock valued at $1,982,000 after buying an additional 2,250 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Wayfair during the fourth quarter worth $229,000. Finally, SG Americas Securities LLC lifted its position in shares of Wayfair by 277.4% in the fourth quarter. SG Americas Securities LLC now owns 12,591 shares of the company's stock valued at $558,000 after acquiring an additional 9,255 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.
About Wayfair
(
Get Free Report)
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.
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