Loop Capital Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:WFree Report) had its price target trimmed by Loop Capital from $60.00 to $50.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

W has been the subject of a number of other reports. Needham & Company LLC reaffirmed a buy rating and issued a $75.00 target price on shares of Wayfair in a research note on Thursday, May 16th. Evercore ISI raised shares of Wayfair from an in-line rating to an outperform rating and upped their target price for the stock from $65.00 to $80.00 in a research note on Thursday, April 4th. Citigroup upped their target price on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Morgan Stanley upped their target price on shares of Wayfair from $85.00 to $90.00 and gave the stock an overweight rating in a research note on Monday, May 13th. Finally, Truist Financial increased their price objective on shares of Wayfair from $63.00 to $70.00 and gave the stock a buy rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $78.50.

Read Our Latest Stock Analysis on Wayfair

Wayfair Stock Performance

Shares of Wayfair stock opened at $52.25 on Friday. The firm has a fifty day moving average of $59.27 and a two-hundred day moving average of $58.67. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of -9.75 and a beta of 3.39. Wayfair has a 52 week low of $38.37 and a 52 week high of $90.71.

Wayfair (NYSE:WGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. As a group, research analysts forecast that Wayfair will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jon Blotner sold 3,282 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.10, for a total transaction of $207,094.20. Following the transaction, the insider now owns 48,322 shares in the company, valued at $3,049,118.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. Insiders have sold 65,680 shares of company stock worth $4,164,783 over the last quarter. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of W. Capital World Investors raised its stake in Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after buying an additional 962,307 shares during the last quarter. Norges Bank bought a new position in Wayfair during the fourth quarter worth $47,374,000. AQR Capital Management LLC raised its stake in Wayfair by 422.6% during the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after buying an additional 413,592 shares during the last quarter. Vanguard Group Inc. raised its stake in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after buying an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in Wayfair during the fourth quarter worth $23,552,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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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.

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Analyst Recommendations for Wayfair (NYSE:W)

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