Wayfair (NYSE:W) Price Target Cut to $50.00 by Analysts at BMO Capital Markets

Wayfair (NYSE:W) had its target price lowered by BMO Capital Markets from $58.00 to $50.00 in a report released on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Bank of America cut shares of Wayfair from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $58.00 in a research report on Thursday, August 1st. Royal Bank of Canada cut their price objective on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Barclays decreased their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Wedbush cut their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Down 8.8 %

NYSE:W opened at $40.43 on Monday. Wayfair has a 52 week low of $37.60 and a 52 week high of $76.18. The stock’s fifty day moving average is $48.61 and its two-hundred day moving average is $52.11. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company posted ($1.38) EPS. Wayfair’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wayfair news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,868 shares of company stock worth $2,003,248. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in the stock. WealthPlan Investment Management LLC lifted its position in Wayfair by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after acquiring an additional 271 shares during the period. Creative Planning raised its stake in shares of Wayfair by 2.1% during the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Wayfair by 12.0% during the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Wayfair in the 3rd quarter valued at $29,000. 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.