Wayfair (NYSE:W) Price Target Raised to $55.00

Wayfair (NYSE:W) had its target price hoisted by Loop Capital from $45.00 to $55.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price objective would indicate a potential downside of 3.07% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Raymond James cut their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Truist Financial cut their target price on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Twelve analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.83.

Wayfair Stock Up 4.8 %

Shares of W opened at $56.74 on Thursday. The company has a market capitalization of $6.83 billion, a P/E ratio of -10.59 and a beta of 3.40. The firm has a 50 day moving average of $46.40 and a 200 day moving average of $54.67. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.27) earnings per share. On average, sell-side analysts expect that Wayfair will post -2.66 EPS for the current year.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were 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 owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the sale, the chief technology officer now owns 64,074 shares in the company, valued at $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold a total of 41,113 shares of company stock worth $2,126,623 in the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several hedge funds have recently made changes to their positions in the business. WealthPlan Investment Management LLC raised its position in shares of Wayfair by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after buying an additional 271 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after buying an additional 360 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Wayfair by 12.0% during the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after buying an additional 399 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Wayfair during the 1st quarter valued at about $27,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other 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.