Robert W. Baird Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its target price cut by Robert W. Baird from $56.00 to $50.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

W has been the subject of several other reports. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Piper Sandler reduced their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Stifel Nicolaus cut their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

Wayfair stock traded up $1.06 during mid-day trading on Monday, hitting $42.99. The company had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The business has a fifty day moving average of $48.64 and a 200 day moving average of $52.26.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the business earned ($1.38) earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s 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 sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction 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 transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,471 shares of company stock worth $1,987,002 over the last 90 days. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

Several large investors have recently modified their holdings of W. Capital World Investors raised its position in shares of Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its stake in shares of Wayfair by 46.2% during the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after acquiring an additional 227,908 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.