Wayfair (W) PT Lowered to $100.00

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Wayfair (NYSE:W) had its price target dropped by equities researchers at Wedbush from $105.00 to $100.00 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price objective would suggest a potential upside of 3.05% from the company’s previous close.

W has been the topic of a number of other reports. Loop Capital set a $155.00 target price on shares of Wayfair and gave the stock a “buy” rating in a research report on Monday, September 10th. Canaccord Genuity restated a “buy” rating and issued a $165.00 price objective (up from $140.00) on shares of Wayfair in a report on Friday, September 28th. MKM Partners increased their price objective on shares of Wayfair from $130.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $160.00 in a report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $126.06.

NYSE:W opened at $97.04 on Tuesday. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -34.66 and a beta of 1.84. Wayfair has a 12 month low of $55.33 and a 12 month high of $151.20.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 1st. The company reported ($1.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.65) EPS. Equities research analysts predict that Wayfair will post -5.15 EPS for the current year.

In other Wayfair news, insider Steven Conine sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $123.00, for a total value of $2,091,000.00. Following the completion of the sale, the insider now owns 69,372 shares of the company’s stock, valued at $8,532,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 9,501 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $106.96, for a total transaction of $1,016,226.96. Following the completion of the sale, the chief executive officer now directly owns 64,558 shares of the company’s stock, valued at approximately $6,905,123.68. The disclosure for this sale can be found here. Insiders sold 444,154 shares of company stock valued at $59,583,191 in the last ninety days. Insiders own 37.75% of the company’s stock.

A number of large investors have recently modified their holdings of W. TradeLink Capital LLC bought a new stake in shares of Wayfair during the third quarter worth $251,000. Penserra Capital Management LLC increased its position in shares of Wayfair by 20.3% during the third quarter. Penserra Capital Management LLC now owns 206,695 shares of the company’s stock worth $30,521,000 after acquiring an additional 34,908 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Wayfair by 65.7% during the third quarter. CIBC Asset Management Inc now owns 5,296 shares of the company’s stock worth $782,000 after acquiring an additional 2,100 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Wayfair by 4.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 69,848 shares of the company’s stock worth $10,314,000 after acquiring an additional 2,998 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Wayfair during the third quarter worth $377,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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