Citigroup Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price target reduced by Citigroup from $70.00 to $54.00 in a report published on Monday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Argus cut Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Mizuho decreased their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Price Performance

Shares of NYSE W opened at $40.43 on Monday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46. The firm’s 50 day simple moving average is $48.61 and its 200-day simple moving average is $52.11. Wayfair has a 12 month low of $37.60 and a 12 month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating 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. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) EPS. Analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction 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 sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently made changes to their positions in W. Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the 3rd quarter worth approximately $29,000. ORG Partners LLC acquired a new position in Wayfair during the first quarter worth $37,000. International Assets Investment Management LLC purchased a new position in shares of Wayfair during the second quarter worth $58,000. Comerica Bank grew its stake in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Wayfair in the 2nd quarter valued at $109,000. 89.67% of the stock is 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.