Wedbush Trims Wayfair (NYSE:W) Target Price to $50.00

Wayfair (NYSE:W) had its price objective lowered by Wedbush from $60.00 to $50.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 11.19% from the stock’s current price.

Several other analysts have also recently commented on the stock. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.64.

Wayfair Stock Up 1.3 %

Wayfair stock traded up $0.58 during mid-day trading on Monday, hitting $44.97. 1,688,555 shares of the company’s stock traded hands, compared to its average volume of 4,245,574. The company has a market cap of $5.55 billion, a PE ratio of -8.48 and a beta of 3.42. Wayfair has a one year low of $38.02 and a one year high of $76.18. The firm has a 50 day moving average price of $48.77 and a 200 day moving average price of $52.89.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.27) EPS. On average, analysts expect that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,891 shares of company stock worth $2,007,213. Corporate insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in Wayfair by 801.5% in the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock valued at $2,385,000 after acquiring an additional 37,750 shares during the last quarter. Semanteon Capital Management LP acquired a new position in Wayfair during the third quarter worth approximately $277,000. Wealth Enhancement Advisory Services LLC bought a new stake in Wayfair in the third quarter valued at approximately $304,000. International Assets Investment Management LLC lifted its position in shares of Wayfair by 3,988.6% in the third quarter. International Assets Investment Management LLC now owns 45,056 shares of the company’s stock valued at $2,531,000 after buying an additional 43,954 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Wayfair by 56.4% during the 3rd quarter. Signaturefd LLC now owns 321,098 shares of the company’s stock worth $18,039,000 after acquiring an additional 115,778 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.