Wayfair (NYSE:W) PT Lowered to $54.00

Wayfair (NYSE:W) had its price objective decreased by The Goldman Sachs Group from $67.00 to $54.00 in a research note released on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. StockNews.com lowered Wayfair from a hold rating to a sell rating in a report on Sunday, June 23rd. BMO Capital Markets boosted their price target on Wayfair from $57.00 to $61.00 and gave the company a market perform rating in a report on Friday, May 3rd. Citigroup dropped their price objective on Wayfair from $85.00 to $70.00 and set a buy rating for the company in a research note on Friday. Finally, Piper Sandler dropped their price objective on Wayfair from $91.00 to $67.00 and set an overweight rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $68.92.

Wayfair Price Performance

W opened at $44.37 on Friday. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -8.28 and a beta of 3.43. Wayfair has a 1 year low of $38.37 and a 1 year high of $85.82. The stock’s 50 day simple moving average is $53.95 and its 200 day simple moving average is $57.26.

Wayfair (NYSE:W) last released its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.27) EPS. As a group, sell-side analysts anticipate that Wayfair will post -2.93 EPS for the current year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Steven Conine sold 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold 50,102 shares of company stock valued at $2,644,559 over the last quarter. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in W. Capital World Investors boosted its stake in shares of 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 period. Norges Bank acquired a new stake in Wayfair in the fourth quarter valued at about $47,374,000. Kodai Capital Management LP acquired a new stake in Wayfair in the fourth quarter valued at about $23,552,000. Vanguard Group Inc. lifted its position in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Wayfair during the 1st quarter valued at approximately $13,690,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.