Truist Financial Lowers Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price target cut by equities researchers at Truist Financial from $60.00 to $55.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 23.96% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Citigroup cut their price target on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group cut their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lowered their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Mizuho cut their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Raymond James reduced their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Up 5.8 %

Shares of NYSE:W opened at $44.37 on Monday. The stock’s 50 day moving average is $48.65 and its 200-day moving average is $52.20. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -9.88 and a beta of 3.46.

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

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,868 shares of company stock valued at $2,003,248 over the last three months. Company insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently added to or reduced their stakes in W. Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the 3rd quarter valued at about $29,000. ORG Partners LLC bought a new position in Wayfair during the first quarter valued at approximately $37,000. International Assets Investment Management LLC bought a new position in Wayfair during the second quarter valued at approximately $58,000. Comerica Bank raised its stake in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after acquiring an additional 471 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

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.