Wayfair (NYSE:W – Get a Rating) had its target price lowered by the UBS Group from $65.00 to $45.00 in a research report released Friday to clients and investors, Stock Target Advisor reports. The company currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 18.80% from the company’s current price.
Several other brokerages also recently commented on W. MKM Partners launched coverage on Wayfair shares in a research report on Thursday, July 28. They have set a “neutral” rating and a price target of $50.00 for the company. Credit Suisse Group lowered its target price on shares of Wayfair from $195.00 to $150.00 and set an “outperform” rating on the stock in a Friday, Aug. 5 report. Cowen lowered his price target on shares of Wayfair from $140.00 to $84.00 in a Monday, August 1 research report. Truist Financial lowered its price target on shares of Wayfair from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday August 1. Finally, Cowen cut its price target on Wayfair shares from $140.00 to $84.00 in a Monday, August 1, report. Ten research analysts gave the stock a sell rating, eight gave the company a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.19.
Wayfair shares down 3.4%
Shares of W were down $1.32 during Friday trading hours, hitting $37.88. The company had a trading volume of 54,696 shares, compared to an average volume of 3,724,706. Wayfair has a 12-month low of $38.70 and a 12-month high of $298.00. The company has a fifty-day moving average of $55.06 and a 200-day moving average of $70.26. The company has a market capitalization of $4.02 billion, a price-earnings ratio of -4.06 and a beta of 2.87.
Wayfair (NYSE:W – Get Rating) last released its results on Thursday, August 4. The company reported ($3.21) earnings per share for the quarter, beating analyst consensus estimates of ($3.24) by $0.03. The company posted revenue of $3.28 billion for the quarter, versus a consensus estimate of $3.19 billion. The company’s revenues were down 14.9% from the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $1.23. On average, equity analysts expect Wayfair to post -12.28 EPS for the current fiscal year.
Separately, Chief Financial Officer Michael D. Fleisher sold 5,874 shares of the company in a transaction that took place on Monday, July 18. The stock was sold at an average price of $53.99, for a total transaction of $317,137.26. Following the completion of the sale, the CFO now directly owns 66,664 shares of the company, valued at $3,599,189.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. In other Wayfair news, insider Steve Oblak sold 1,687 shares of the company in a trade on Friday, September 16. The stock was sold at an average price of $46.59, for a total transaction of $78,597.33. Following the transaction, the insider now directly owns 160,746 shares of the company, valued at $7,489,156.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Chief Financial Officer Michael D. Fleisher sold 5,874 shares of the company in a transaction that took place on Monday, July 18. The stock was sold at an average price of $53.99, for a total transaction of $317,137.26. Following the sale, the CFO now directly owns 66,664 shares of the company, valued at $3,599,189.36. The disclosure of this sale can be found here. Insiders sold 20,199 shares of the company worth $993,625 in the past three months. 26.81% of the shares are currently held by company insiders.
Wayfair Institutional Trading
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Wayfair by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 13,716 shares of the company valued at $2,605,000 after purchasing an additional 280 shares during the period. Charles Schwab Investment Management Inc. increased its position in Wayfair by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,395 shares of the company worth $44,908,000 after acquiring an additional 7,085 shares in the last quarter. Geode Capital Management LLC increased its stake in Wayfair by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 925,784 shares of the company valued at $175,611,000 after acquiring an additional 37,909 shares during the period. Schroder Investment Management Group increased its stake in Wayfair by 56.9% in the fourth quarter. Schroder Investment Management Group now owns 2,437 shares of the company valued at $462,000 after acquiring an additional 884 shares during the period. Finally, GSA Capital Partners LLP purchased a new equity stake in Wayfair during Q4 for $232,000. Institutional investors and hedge funds own 91.05% of the company’s shares.
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Wayfair Inc is active in e-commerce in the United States and internationally. The company supplies approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, decor, housewares and home improvement products through its sites, including brands Wayfair, Joss & Main, AllModern, Birch Lane and Perigold.
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