Wayfair (NYSE:W) Price Target Cut to $55.00 by Analysts at UBS Group

Wayfair (NYSE:W) had its price target reduced by investment analysts at UBS Group from $60.00 to $55.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 102.65% from the stock’s current price.

W has been the topic of a number of other research reports. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. BMO Capital Markets boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Citigroup lowered Wayfair from a “buy” rating to a “neutral” rating and dropped their price target for the company from $58.00 to $28.00 in a research note on Friday, April 4th. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wayfair has a consensus rating of “Hold” and an average price target of $52.92.

Wayfair Stock Up 0.7 %

Shares of NYSE:W traded up $0.19 during midday trading on Monday, reaching $27.14. 4,811,613 shares of the company were exchanged, compared to its average volume of 4,618,305. The firm has a market cap of $3.44 billion, a PE ratio of -6.75 and a beta of 3.72. The stock has a fifty day simple moving average of $36.48 and a two-hundred day simple moving average of $43.39. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate 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. As a group, analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 19,257 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total transaction of $610,061.76. Following the transaction, the insider now directly owns 78,308 shares of the company’s stock, valued at $2,480,797.44. This represents a 19.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,863 shares of company stock worth $4,847,429 over the last three months. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of W. Southpoint Capital Advisors LP boosted its position in Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock valued at $124,096,000 after buying an additional 1,400,000 shares during the last quarter. Capital World Investors boosted its holdings in shares of Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after acquiring an additional 740,641 shares during the period. Norges Bank purchased a new position in shares of Wayfair during the fourth quarter worth $31,472,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Wayfair during the fourth quarter worth $30,735,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.