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

Wayfair (NYSE:W) had its price objective decreased by Wedbush from $50.00 to $45.00 in a research note issued to investors on Monday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

W has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. Mizuho cut their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday. Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Up 2.5 %

Shares of W stock traded up $1.06 on Monday, hitting $42.99. 178,786 shares of the stock were exchanged, compared to its average volume of 4,340,918. The firm’s 50 day moving average is $48.64 and its two-hundred day moving average is $52.26. Wayfair has a one year low of $38.02 and a one year high of $76.18.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping 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. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. As a group, equities research analysts predict that Wayfair will post -2.68 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,471 shares of company stock worth $1,987,002. 23.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of W. Renaissance Technologies LLC increased its stake in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the period. Wolf Hill Capital Management LP increased its position in Wayfair by 22.9% during the 2nd 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 period. Vanguard Group Inc. increased its position in Wayfair by 4.5% during the 1st 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 period. Maverick Capital Ltd. raised its holdings in Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after purchasing an additional 227,908 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Wayfair in the 1st 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.