Wayfair (NYSE:W) Reaches New 1-Year Low on Analyst Downgrade

Wayfair Inc. (NYSE:W)’s share price hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $63.00 to $50.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Wayfair traded as low as $32.41 and last traded at $32.85, with a volume of 1889856 shares changing hands. The stock had previously closed at $35.01.

W has been the topic of a number of other reports. Truist Financial lowered their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. Wedbush restated a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Loop Capital lowered their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.81.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $45.75, for a total value of $1,372,500.00. Following the transaction, the insider now owns 602,573 shares in the company, valued at $27,567,714.75. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,228 shares of company stock worth $6,235,818 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently bought and sold shares of W. True Wealth Design LLC lifted its stake in Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp lifted its position in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Wayfair in the third quarter valued at about $29,000. Finally, GAMMA Investing LLC raised its stake in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Trading Up 2.4 %

The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -8.50 and a beta of 3.44. The business’s 50 day moving average price is $44.18 and its two-hundred day moving average price is $46.12.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

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.