Wayfair (NYSE:W) Given New $65.00 Price Target at UBS Group

Wayfair (NYSE:W) had its target price cut by equities research analysts at UBS Group from $70.00 to $65.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 40.03% from the stock’s current price.

W has been the topic of several other research reports. Wedbush dropped their price objective on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Guggenheim reissued a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lowered their target price on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lowered their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $65.20.

Wayfair Stock Down 3.1 %

W opened at $46.42 on Tuesday. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market capitalization of $5.59 billion, a P/E ratio of -8.66 and a beta of 3.42. The stock has a fifty day moving average of $48.75 and a 200-day moving average of $53.25.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.27) EPS. On average, analysts expect that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,891 shares of company stock worth $2,007,213 in the last ninety days. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Wayfair in the first quarter valued at about $937,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Wayfair by 250.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after buying an additional 119,415 shares in the last quarter. Sei Investments Co. grew its stake in Wayfair by 14.6% during the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after buying an additional 12,809 shares during the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in shares of Wayfair during the second quarter worth approximately $5,165,000. 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.