Wayfair (NYSE:W) Price Target Lowered to $65.00 at Raymond James

Wayfair (NYSE:W) had its price objective cut by Raymond James from $70.00 to $65.00 in a research note published on Friday morning, Benzinga reports. They currently have a strong-buy rating on the stock.

W has been the topic of a number of other reports. Stifel Nicolaus cut their target price on Wayfair from $56.00 to $55.00 and set a hold rating on the stock in a research report on Friday. Morgan Stanley lifted their price target on Wayfair from $85.00 to $90.00 and gave the company an overweight rating in a report on Monday, May 13th. Citigroup lowered their price target on Wayfair from $85.00 to $70.00 and set a buy rating on the stock in a report on Friday. Truist Financial lowered their price target on Wayfair from $70.00 to $60.00 and set a buy rating on the stock in a report on Friday. Finally, BMO Capital Markets lifted their price target on Wayfair from $57.00 to $61.00 and gave the company a market perform rating in a report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wayfair presently has an average rating of Moderate Buy and an average target price of $68.92.

Wayfair Price Performance

Shares of Wayfair stock opened at $44.37 on Friday. The business’s fifty day moving average price is $53.95 and its two-hundred day moving average price is $57.26. The company has a market capitalization of $5.34 billion, a P/E ratio of -8.28 and a beta of 3.43. Wayfair has a 1-year low of $38.37 and a 1-year high of $85.82.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company earned ($1.27) earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts expect that Wayfair will post -2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the transaction, the insider now directly owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the transaction, the insider now directly owns 219,073 shares in the company, valued at approximately $12,441,155.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,102 shares of company stock valued at $2,644,559. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares in the last quarter. Norges Bank bought a new position in shares of Wayfair in the 4th quarter worth about $47,374,000. Wellington Management Group LLP raised its position in shares of Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Wayfair by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock valued at $41,595,000 after acquiring an additional 39,545 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

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.