Wayfair (NYSE:W) Reaches New 1-Year Low – What’s Next?

Wayfair Inc. (NYSE:W)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $37.58 and last traded at $38.79, with a volume of 683297 shares traded. The stock had previously closed at $37.77.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on W shares. Piper Sandler lowered their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group lowered their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wedbush cut their target price on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Thirteen 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 stock. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Down 1.7 %

The company’s 50-day moving average price is $48.36 and its two-hundred day moving average price is $51.69. The company has a market cap of $4.82 billion, a P/E ratio of -8.57 and a beta of 3.46.

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. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.38) earnings per share. Equities analysts forecast that Wayfair Inc. will post -2.92 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,868 shares of company stock valued at $2,003,248 in the last three months. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

Several large investors have recently modified their holdings of W. Capital Performance Advisors LLP acquired a new stake in Wayfair in the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in Wayfair during the third quarter worth about $50,000. International Assets Investment Management LLC acquired a new stake in shares of Wayfair during the 2nd quarter worth approximately $58,000. Comerica Bank boosted its stake in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Wayfair during the 2nd quarter worth about $109,000. 89.67% of the stock is owned by institutional investors.

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.