Wayfair (NYSE:W) Price Target Lowered to $67.00 at Piper Sandler

Wayfair (NYSE:W) had its price objective lowered by Piper Sandler from $91.00 to $67.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on W. Wedbush dropped their price target on shares of Wayfair from $70.00 to $60.00 and set an outperform rating for the company in a research note on Friday. Sanford C. Bernstein raised their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a market perform rating in a research note on Friday, May 3rd. Gordon Haskett cut shares of Wayfair from a buy rating to a hold rating in a research report on Thursday, August 1st. Truist Financial decreased their price objective on shares of Wayfair from $70.00 to $60.00 and set a buy rating for the company in a research report on Friday. Finally, TD Cowen raised their price target on shares of Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $68.92.

Wayfair Price Performance

Shares of NYSE:W opened at $44.37 on Friday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -8.28 and a beta of 3.43. The firm has a 50 day simple moving average of $53.95 and a 200 day simple moving average of $57.26. Wayfair has a one year low of $38.37 and a one year high of $85.82.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted ($1.27) earnings per share. As a group, analysts expect that Wayfair will post -2.93 EPS for the current year.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the completion of the transaction, the chief executive officer now owns 209,137 shares of the company’s stock, valued at $11,004,788.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $52.62, for a total value of $526,200.00. Following the completion of the transaction, the chief executive officer now owns 209,137 shares of the company’s stock, valued at approximately $11,004,788.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,102 shares of company stock valued at $2,644,559. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in shares of Wayfair in the 2nd quarter worth approximately $311,000. Arizona State Retirement System lifted its holdings in shares of Wayfair by 10.5% in the 2nd quarter. Arizona State Retirement System now owns 25,222 shares of the company’s stock worth $1,330,000 after acquiring an additional 2,403 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Wayfair by 26.5% in the 2nd quarter. Victory Capital Management Inc. now owns 228,724 shares of the company’s stock worth $12,061,000 after acquiring an additional 47,978 shares during the last quarter. Mesirow Institutional Investment Management Inc. lifted its holdings in shares of Wayfair by 4.1% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 209,964 shares of the company’s stock worth $11,071,000 after acquiring an additional 8,278 shares during the last quarter. Finally, AM Squared Ltd bought a new stake in shares of Wayfair in the 2nd quarter worth approximately $142,000. 89.67% of the stock is currently owned by 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.