Wayfair (NYSE:W) Price Target Lowered to $50.00 at Robert W. Baird

Wayfair (NYSE:W) had its price objective cut by Robert W. Baird from $56.00 to $50.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Stifel Nicolaus reduced their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler reduced their target price 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Down 8.8 %

Shares of Wayfair stock opened at $40.43 on Monday. The firm has a market capitalization of $4.99 billion, a P/E ratio of -9.00 and a beta of 3.46. Wayfair has a 52 week low of $37.60 and a 52 week high of $76.18. The company has a 50 day moving average price of $48.61 and a 200 day moving average price of $52.11.

Wayfair (NYSE:W) last posted 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 for the quarter, compared to analyst estimates of $2.87 billion. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.38) earnings per share. As a group, research analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Fiona Tan sold 10,040 shares of the company’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 $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. 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 can be accessed through this link. Also, COO Thomas Netzer sold 1,011 shares of Wayfair 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 transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,868 shares of company stock worth $2,003,248. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in Wayfair in the first quarter valued at approximately $37,000. International Assets Investment Management LLC acquired a new position in Wayfair during the second quarter worth $58,000. Comerica Bank boosted its position 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 buying an additional 829 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares in the last quarter. Institutional investors and hedge funds 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.