Citigroup Lowers Wayfair (NYSE:W) Price Target to $95.00

Wayfair (NYSE:W) had its price target lowered by analysts at Citigroup from $110.00 to $95.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 67.98% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Evercore set a $100.00 price objective on shares of Wayfair in a research report on Friday, February 20th. Mizuho lowered their price objective on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Robert W. Baird set a $76.00 price objective on shares of Wayfair in a research report on Monday, May 4th. Finally, Needham & Company LLC lowered their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.89.

Wayfair Trading Down 4.6%

NYSE:W traded down $2.71 during mid-day trading on Tuesday, reaching $56.56. The company’s stock had a trading volume of 1,334,356 shares, compared to its average volume of 3,744,732. The stock has a market cap of $7.47 billion, a P/E ratio of -24.11, a PEG ratio of 3.32 and a beta of 3.02. The firm’s fifty day moving average price is $72.56 and its two-hundred day moving average price is $90.01. Wayfair has a 12-month low of $34.46 and a 12-month high of $119.98.

Wayfair (NYSE:W) last posted its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts predict that Wayfair will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the completion of the sale, the director directly owned 436,212 shares of the company’s stock, valued at approximately $33,806,430. This represents a 20.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at approximately $33,729,382.26. This represents a 20.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 703,785 shares of company stock worth $54,004,173. 18.44% of the stock is owned by insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in Wayfair by 0.6% during the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after buying an additional 82,584 shares during the last quarter. Vanguard Group Inc. increased its holdings in Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after buying an additional 72,707 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after buying an additional 180,558 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after buying an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Wayfair by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after buying an additional 8,598 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.