Wedbush Cuts Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W) had its target price lowered by Wedbush from $50.00 to $45.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research note on Friday. Robert W. Baird cut their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group reduced their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Loop Capital upped their price target on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Thirteen investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Up 2.5 %

Shares of NYSE W traded up $1.06 during mid-day trading on Monday, hitting $42.99. 178,786 shares of the stock traded hands, compared to its average volume of 4,340,918. The stock has a fifty day moving average price of $48.64 and a 200-day moving average price of $52.26. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18.

Wayfair (NYSE:W) last announced 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 business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.38) EPS. Research analysts forecast that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kate Gulliver sold 7,330 shares of the firm’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 transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock worth $1,987,002 in the last three months. 23.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the period. 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. Vanguard Group Inc. boosted its stake 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 period. Maverick Capital Ltd. boosted its stake in shares of Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Wayfair during the first quarter worth about $13,690,000. Hedge funds and other institutional investors 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.