Wayfair (NYSE:W) Price Target Lowered to $50.00 at Bank of America

Wayfair (NYSE:W) had its price target dropped by equities research analysts at Bank of America from $52.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 8.53% from the stock’s previous close.

Several other equities analysts have also recently commented on W. Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Truist Financial decreased their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, November 4th. Loop Capital boosted their target price on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, December 16th. BMO Capital Markets cut their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $59.04.

Wayfair Price Performance

Shares of W stock opened at $46.07 on Friday. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -10.26 and a beta of 3.43. The business has a 50 day simple moving average of $46.42 and a 200 day simple moving average of $46.50.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). On average, equities analysts anticipate that Wayfair will post -2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 5,974 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the completion of the sale, the chief financial officer now owns 129,964 shares of the company’s stock, valued at approximately $5,841,881.80. The trade was a 4.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,228 shares of company stock worth $6,440,118. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. J.Safra Asset Management Corp grew its stake in shares of Wayfair by 71.3% in the 4th 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 in the last quarter. Creative Planning increased its stake in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.