Wayfair (NYSE:W) Given “Neutral” Rating at Wedbush

Wayfair (NYSE:W)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a note issued to investors on Friday,RTT News reports. They currently have a $46.00 price target on the stock, up from their previous price target of $44.00. Wedbush’s price target indicates a potential upside of 9.75% from the company’s current price.

W has been the topic of several other reports. Piper Sandler cut their target price on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Loop Capital cut their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday. Bank of America cut their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday. Stifel Nicolaus cut their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday. Finally, Mizuho dropped their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Wayfair Stock Down 9.0 %

Shares of W traded down $4.15 during midday trading on Friday, hitting $41.92. The company’s stock had a trading volume of 5,676,740 shares, compared to its average volume of 3,753,029. Wayfair has a one year low of $37.35 and a one year high of $76.18. The company’s fifty day simple moving average is $46.42 and its two-hundred day simple moving average is $46.50. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of -9.34 and a beta of 3.43.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, research analysts predict that Wayfair will post -2.89 earnings per share for the current year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,228 shares of company stock worth $7,830,018 over the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC lifted its holdings in Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after acquiring an additional 381 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Wayfair in the third quarter valued at $29,000. Finally, GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. 89.67% of the stock is currently owned by institutional investors.

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.