JPMorgan Chase & Co. Lowers Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $63.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 46.35% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Loop Capital decreased their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Raymond James set a $60.00 price objective on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Truist Financial decreased their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.81.

Wayfair Stock Performance

Shares of NYSE:W opened at $34.17 on Monday. Wayfair has a one year low of $32.41 and a one year high of $76.18. The stock has a market cap of $4.34 billion, a PE ratio of -8.50 and a beta of 3.44. The business’s fifty day moving average price is $44.18 and its two-hundred day moving average price is $46.12.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, equities research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the sale, the insider now owns 602,573 shares in the company, valued at approximately $27,567,714.75. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction 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 transaction, the chief operating officer now 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 disclosure for this sale can be found here. In the last three months, insiders sold 134,228 shares of company stock valued at $6,235,818. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the stock. True Wealth Design LLC grew its stake in Wayfair by 207.1% in 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 in the last quarter. J.Safra Asset Management Corp grew its position in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Wayfair in the 3rd quarter valued at approximately $29,000. Finally, GAMMA Investing LLC lifted 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 purchasing an additional 281 shares during 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.