Wayfair (W) PT Lowered to $110.00 at JPMorgan Chase & Co.

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Wayfair (NYSE:W) had its price target cut by JPMorgan Chase & Co. from $115.00 to $110.00 in a research note released on Friday. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Robert W. Baird boosted their price target on Wayfair to $118.00 and gave the company a neutral rating in a report on Friday, August 3rd. Zacks Investment Research upgraded Wayfair from a sell rating to a hold rating in a report on Saturday, July 7th. Gordon Haskett downgraded Wayfair from an accumulate rating to a hold rating in a report on Wednesday, July 25th. Canaccord Genuity reiterated a buy rating and issued a $140.00 price target (up from $135.00) on shares of Wayfair in a report on Thursday, August 2nd. Finally, Morgan Stanley set a $105.00 price target on Wayfair and gave the company a hold rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $126.06.

Shares of W opened at $97.04 on Friday. The firm 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 fifty-two week low of $55.33 and a fifty-two week high of $151.20.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.67 billion. The business’s revenue was up 42.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) EPS. Equities research analysts anticipate that Wayfair will post -5.15 earnings per share for the current fiscal year.

In related news, COO James Savarese sold 99,570 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $150.18, for a total transaction of $14,953,422.60. Following the completion of the sale, the chief operating officer now directly owns 458,056 shares of the company’s stock, valued at approximately $68,790,850.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 9,424 shares of the company’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $106.93, for a total transaction of $1,007,708.32. Following the sale, the insider now directly owns 64,415 shares of the company’s stock, valued at $6,887,895.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,154 shares of company stock valued at $59,583,191. Insiders own 37.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in Wayfair by 1.3% during the 2nd quarter. FMR LLC now owns 8,772,877 shares of the company’s stock worth $1,041,867,000 after purchasing an additional 108,514 shares during the period. Baillie Gifford & Co. boosted its position in Wayfair by 14.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,696,705 shares of the company’s stock worth $320,260,000 after purchasing an additional 331,656 shares during the period. Janus Henderson Group PLC boosted its position in Wayfair by 3.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,409,863 shares of the company’s stock worth $286,195,000 after purchasing an additional 90,212 shares during the period. Scopia Capital Management LP purchased a new stake in Wayfair during the 2nd quarter worth $252,032,000. Finally, Artisan Partners Limited Partnership boosted its position in Wayfair by 5.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,241,004 shares of the company’s stock worth $147,382,000 after purchasing an additional 64,521 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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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Analyst Recommendations for Wayfair (NYSE:W)

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