Wayfair (NYSE:W) PT Lowered to $58.00 at Barclays

Wayfair (NYSE:W) had its price target lowered by Barclays from $60.00 to $58.00 in a report issued on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

W has been the topic of several other reports. Evercore ISI upgraded shares of Wayfair from an in-line rating to an outperform rating and raised their price target for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Wedbush restated an outperform rating and issued a $70.00 price target on shares of Wayfair in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Citigroup raised their price objective on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada raised their price objective on shares of Wayfair from $61.00 to $65.00 and gave the stock a sector perform rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $78.37.

Wayfair Trading Up 7.9 %

NYSE:W opened at $53.02 on Friday. Wayfair has a 1 year low of $38.37 and a 1 year high of $90.71. The firm’s fifty day simple moving average is $55.06 and its 200 day simple moving average is $57.25. The firm has a market capitalization of $6.38 billion, a PE ratio of -9.89 and a beta of 3.43.

Wayfair (NYSE:W) last posted its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. As a group, analysts anticipate that Wayfair will post -2.93 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total value of $682,600.00. Following the sale, the insider now owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Wayfair news, insider Jon Blotner sold 4,801 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 53,152 shares of the company’s stock, valued at $2,708,094.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total transaction of $682,600.00. Following the completion of the transaction, the insider now owns 229,073 shares in the company, valued at $15,636,522.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,030 shares of company stock valued at $3,327,414. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors lifted its holdings in shares of Wayfair by 0.9% in the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after acquiring an additional 103,369 shares during the last quarter. Vanguard Group Inc. lifted 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. Norges Bank bought a new position in shares of Wayfair in the fourth quarter worth about $47,374,000. Wellington Management Group LLP lifted its holdings in shares of Wayfair by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Wayfair by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock worth $41,595,000 after acquiring an additional 39,545 shares during the last quarter. 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.