Wayfair (NYSE:W) Price Target Lowered to $50.00 at Loop Capital

Wayfair (NYSE:W) had its price objective cut by research analysts at Loop Capital from $60.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target indicates a potential downside of 4.31% from the company’s current price.

A number of other analysts have also issued reports on the stock. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $80.00 in a research note on Thursday, April 4th. Truist Financial boosted their target price on shares of Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Argus raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, May 16th. Citigroup boosted their price objective on Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Sanford C. Bernstein upped their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.31.

Wayfair Price Performance

NYSE:W opened at $52.25 on Friday. The firm has a 50-day moving average of $59.27 and a two-hundred day moving average of $58.63. The stock has a market cap of $6.29 billion, a P/E ratio of -9.75 and a beta of 3.39. Wayfair has a 1-year low of $38.37 and a 1-year high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, equities analysts expect that Wayfair will post -2.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $64.58, for a total transaction of $645,800.00. Following the sale, the chief executive officer now directly owns 239,137 shares in the company, valued at $15,443,467.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 4,144 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the transaction, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the transaction, the chief executive officer now owns 239,137 shares in the company, valued at $15,443,467.46. The disclosure for this sale can be found here. Insiders sold 65,680 shares of company stock valued at $4,164,783 in the last three months. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in Wayfair in the 1st quarter worth about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wayfair in the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Wayfair in the fourth quarter valued at $31,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Wayfair in the third quarter worth $34,000. Finally, ORG Partners LLC purchased a new position in shares of Wayfair during the first quarter valued at $37,000. 89.67% of the stock is currently 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.