Truist Financial Issues Pessimistic Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its target price lowered by equities researchers at Truist Financial from $60.00 to $55.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 25.92% from the stock’s previous close.

W has been the subject of a number of other research reports. Mizuho cut their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus cut their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday. Citigroup dropped their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lowered their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Thirteen equities research 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 data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $62.64.

Wayfair Trading Up 8.8 %

W stock traded up $3.53 on Monday, hitting $43.68. 3,001,908 shares of the company’s stock traded hands, compared to its average volume of 4,329,922. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -8.26 and a beta of 3.46. The stock has a fifty day moving average of $48.69 and a 200-day moving average of $52.35.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business posted ($1.27) EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction that occurred 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 transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,471 shares of company stock worth $1,987,002. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in W. Renaissance Technologies LLC increased its holdings in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP increased its holdings 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 purchasing an additional 432,404 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Wayfair in the first quarter valued at $13,690,000. 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.