Loop Capital Forecasts Strong Price Appreciation for Wayfair (NYSE:W) Stock

Wayfair (NYSE:W) had its target price hoisted by equities researchers at Loop Capital from $50.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price objective suggests a potential upside of 9.08% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus reduced their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. 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 report on Monday, November 4th. UBS Group reduced their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Down 0.3 %

Shares of W opened at $50.42 on Monday. The firm has a market cap of $6.32 billion, a PE ratio of -11.26 and a beta of 3.44. The company’s fifty day moving average is $46.81 and its two-hundred day moving average is $48.86. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Wayfair’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted ($1.38) EPS. As a group, equities research analysts anticipate that Wayfair will post -2.91 earnings per share for the current year.

Insider Activity

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Thomas Netzer sold 8,435 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $447,561.10. Following the sale, the chief operating officer now owns 179,180 shares of the company’s stock, valued at approximately $9,507,290.80. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,857 shares of company stock worth $4,816,784. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Wayfair during the third quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair during the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in Wayfair during the 3rd quarter valued at about $50,000. International Assets Investment Management LLC bought a new position in Wayfair in the 2nd quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair in the third quarter valued at approximately $67,000. 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.