Wayfair (NYSE:W) Given New $55.00 Price Target at Loop Capital

Wayfair (NYSE:W) had its price objective boosted by Loop Capital from $45.00 to $55.00 in a research report released on Thursday, Benzinga reports. Loop Capital currently has a hold rating on the stock.

A number of other research firms have also recently commented on W. The Goldman Sachs Group dropped their price target on shares of Wayfair from $67.00 to $54.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Piper Sandler dropped their price target on shares of Wayfair from $91.00 to $67.00 and set an overweight rating for the company in a research note on Friday, August 2nd. 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, August 2nd. Bank of America cut shares of Wayfair from a buy rating to a neutral rating and dropped their price target for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Finally, Raymond James dropped their price target on shares of Wayfair from $70.00 to $65.00 and set a strong-buy rating for the company in a research note on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $65.83.

Wayfair Stock Up 4.8 %

W stock opened at $56.76 on Thursday. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The company has a fifty day simple moving average of $46.51 and a two-hundred day simple moving average of $54.61. The firm has a market capitalization of $6.83 billion, a P/E ratio of -10.59 and a beta of 3.40.

Wayfair (NYSE:W) last released 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 business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business earned ($1.27) EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Wayfair will post -2.66 EPS for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,801 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the transaction, the insider now owns 53,152 shares in the company, valued at approximately $2,708,094.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50. Following the transaction, the chief operating officer now owns 157,239 shares in the company, valued at approximately $7,978,306.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 4,801 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total transaction of $244,610.95. Following the transaction, the insider now owns 53,152 shares in the company, valued at approximately $2,708,094.40. The disclosure for this sale can be found here. Insiders sold a total of 41,113 shares of company stock worth $2,126,623 in the last 90 days. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Wayfair in the 1st quarter valued at $27,000. ORG Partners LLC purchased a new stake in Wayfair during the first quarter worth $37,000. International Assets Investment Management LLC purchased a new stake in Wayfair during the second quarter worth $58,000. Comerica Bank boosted its holdings in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in 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 buying an additional 471 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.