Wayfair (NYSE:W) Price Target Cut to $46.00 by Analysts at Stifel Nicolaus

Wayfair (NYSE:W) had its price target cut by Stifel Nicolaus from $47.00 to $46.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on W. BMO Capital Markets dropped their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Wedbush cut Wayfair from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Royal Bank of Canada dropped their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Piper Sandler dropped their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Wayfair in a research report on Friday. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Wayfair Trading Down 9.0 %

NYSE W opened at $41.92 on Friday. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18. The firm has a market cap of $5.25 billion, a PE ratio of -9.34 and a beta of 3.43. The stock has a 50-day moving average of $46.42 and a 200-day moving average of $46.50.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, equities research analysts forecast that Wayfair will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,966 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.93, for a total transaction of $223,122.38. Following the sale, the insider now directly owns 68,089 shares in the company, valued at approximately $3,059,238.77. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the sale, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,228 shares of company stock valued at $7,830,018 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC boosted its stake in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Wayfair in the 3rd quarter worth $29,000. Finally, GAMMA Investing LLC boosted its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.