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

Wayfair (NYSE:W) had its price objective lowered by equities research analysts at Wedbush from $50.00 to $45.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 7.35% from the company’s current price.

A number of other brokerages have also recently commented on W. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. The Goldman Sachs Group lowered their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $61.36.

Wayfair Trading Up 4.4 %

Shares of NYSE:W traded up $1.77 on Monday, reaching $41.92. 4,905,426 shares of the company were exchanged, compared to its average volume of 4,338,859. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -7.83 and a beta of 3.46. The company has a 50-day moving average of $48.69 and a 200-day moving average of $52.35.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the business posted ($1.27) earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts forecast that Wayfair will post -2.68 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,471 shares of company stock worth $1,987,002 in the last three months. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Wayfair during the third quarter valued at $29,000. ORG Partners LLC acquired a new position in shares of Wayfair during the first quarter valued at $37,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair during the second quarter valued at $58,000. Comerica Bank boosted its holdings in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Wayfair during the second quarter valued at $109,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.