Wayfair (NYSE:W) Price Target Cut to $47.00 by Analysts at Stifel Nicolaus

Wayfair (NYSE:W) had its price objective reduced by analysts at Stifel Nicolaus from $55.00 to $47.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 5.93% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler cut their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Mizuho reduced their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank of Canada dropped their price objective on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Loop Capital lifted their price target on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Up 5.8 %

Shares of W stock opened at $44.37 on Monday. The stock has a market cap of $5.48 billion, a PE ratio of -9.88 and a beta of 3.46. Wayfair has a 52-week low of $38.02 and a 52-week high of $76.18. The business has a 50-day simple moving average of $48.65 and a 200-day simple moving average of $52.20.

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

Insider Activity

In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the sale, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,868 shares of company stock valued at $2,003,248. 23.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its position in Wayfair by 18.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock valued at $536,000 after buying an additional 1,479 shares during the period. Entropy Technologies LP raised its stake in shares of Wayfair by 33.4% in the third quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock valued at $1,767,000 after acquiring an additional 7,884 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Wayfair by 24.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock worth $2,505,000 after purchasing an additional 8,675 shares in the last quarter. River Global Investors LLP increased its holdings in Wayfair by 3.9% during the 3rd quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock worth $1,534,000 after purchasing an additional 1,017 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Wayfair in the 3rd quarter valued at about $29,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.