Wayfair (NYSE:W) Price Target Lowered to $65.00 at Raymond James

Wayfair (NYSE:W) had its price target decreased by Raymond James from $70.00 to $65.00 in a report released on Friday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group cut their target price on shares of Wayfair from $67.00 to $54.00 and set a neutral rating for the company in a research report on Friday. Barclays decreased their price objective on Wayfair from $60.00 to $58.00 and set an equal weight rating on the stock in a report on Friday, July 26th. Gordon Haskett lowered Wayfair from a buy rating to a hold rating in a research note on Thursday. Citigroup lowered their price objective on shares of Wayfair from $85.00 to $70.00 and set a buy rating for the company in a report on Friday. Finally, Stifel Nicolaus reduced their target price on shares of Wayfair from $56.00 to $55.00 and set a hold rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $73.83.

Wayfair Stock Performance

Shares of NYSE:W traded down $2.24 during midday trading on Friday, reaching $47.77. 5,973,354 shares of the company traded hands, compared to its average volume of 4,472,972. The firm’s fifty day moving average price is $53.95 and its two-hundred day moving average price is $57.18. Wayfair has a 12 month low of $38.37 and a 12 month high of $90.71.

Wayfair (NYSE:W) last posted its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. Research analysts predict that Wayfair will post -2.93 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the transaction, the insider now owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Steven Conine sold 10,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the sale, the insider now directly owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold 59,682 shares of company stock valued at $3,306,949 over the last quarter. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of W. Capital World Investors lifted its holdings in shares of Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after buying an additional 103,369 shares during the period. Vanguard Group Inc. lifted its holdings in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Norges Bank purchased a new position in Wayfair in the fourth quarter worth about $47,374,000. Wellington Management Group LLP grew its stake in shares of Wayfair by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after purchasing an additional 119,873 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Wayfair by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock valued at $41,595,000 after purchasing an additional 39,545 shares during 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.