Wayfair (NYSE:W) Price Target Cut to $50.00 by Analysts at JPMorgan Chase & Co.

Wayfair (NYSE:W) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $63.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 47.96% from the company’s current price.

W has been the topic of a number of other reports. Piper Sandler set a $58.00 price target on shares of Wayfair and gave the stock an “overweight” rating in a research report on Friday, February 21st. Canaccord Genuity Group reduced their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $47.00 in a research report on Friday. Finally, Royal Bank of Canada decreased their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.19.

Wayfair Stock Down 3.5 %

Shares of Wayfair stock traded down $1.22 during trading on Monday, reaching $33.79. 793,122 shares of the company were exchanged, compared to its average volume of 3,839,892. The business has a 50-day moving average price of $44.61 and a 200-day moving average price of $46.26. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -8.38 and a beta of 3.44. Wayfair has a twelve month low of $32.50 and a twelve month high of $76.18.

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 company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, equities research analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the transaction, the insider now directly owns 602,573 shares of the company’s stock, valued at approximately $27,567,714.75. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,228 shares of company stock valued at $6,235,818. 26.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its position in shares of 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 acquiring an additional 381 shares during the period. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp grew its stake in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Wayfair during the third quarter worth about $29,000. Finally, GAMMA Investing LLC increased its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. 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.