Deutsche Bank Aktiengesellschaft Cuts Wayfair (NYSE:W) Price Target to $70.00

Wayfair (NYSE:W) had its price target reduced by equities researchers at Deutsche Bank Aktiengesellschaft from $87.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 44.63% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Piper Sandler reduced their target price on Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday. Sanford C. Bernstein lifted their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Wedbush reduced their price target on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday. Royal Bank of Canada increased their target price on shares of Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday, May 6th. Finally, StockNews.com downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a research report on Sunday, June 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.46.

Wayfair Stock Down 3.2 %

NYSE W traded down $1.61 on Friday, hitting $48.40. 3,680,917 shares of the stock were exchanged, compared to its average volume of 4,274,645. The company has a 50-day moving average price of $54.22 and a 200-day moving average price of $57.20. Wayfair has a fifty-two week low of $38.37 and a fifty-two week high of $90.71. The company has a market cap of $5.83 billion, a PE ratio of -9.07 and a beta of 3.43.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, equities research analysts predict that Wayfair will post -2.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the sale, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,682 shares of company stock valued at $3,306,949. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of W. Riverview Trust Co acquired a new position in Wayfair during the first quarter valued at approximately $27,000. GAMMA Investing LLC bought a new stake in shares of Wayfair during the fourth quarter worth about $31,000. ORG Partners LLC acquired a new stake in Wayfair during the first quarter worth approximately $37,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair during the 2nd quarter valued at $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Wayfair during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds 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.