Wayfair (NYSE:W) PT Lowered to $63.00 at Piper Sandler

Wayfair (NYSE:W) had its target price trimmed by Piper Sandler from $67.00 to $63.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the company. Barclays cut their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Wayfair in a research note on Wednesday, October 23rd. Citigroup lowered their price target on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James decreased their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.64.

Wayfair Price Performance

NYSE:W opened at $44.43 on Monday. The stock has a market cap of $5.49 billion, a PE ratio of -8.40 and a beta of 3.42. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The stock’s 50-day moving average is $48.77 and its two-hundred day moving average is $52.89.

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

Insiders Place Their Bets

In related 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 completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,891 shares of company stock worth $2,007,213. 23.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. WealthPlan Investment Management LLC raised its stake in shares of Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after acquiring an additional 271 shares during the last quarter. Creative Planning raised its position in Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Wayfair by 39.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Wayfair in the first quarter valued at $37,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.