Wayfair (NYSE:W) Price Target Lowered to $55.00 at Truist Financial

Wayfair (NYSE:W) had its price target cut by Truist Financial from $60.00 to $55.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

W has been the topic of a number of other research reports. Citigroup cut their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Loop Capital boosted their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. Barclays cut their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Down 1.6 %

Shares of Wayfair stock opened at $39.78 on Monday. Wayfair has a 12 month low of $37.60 and a 12 month high of $76.18. The stock’s fifty day simple moving average is $48.57 and its 200 day simple moving average is $52.03.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business earned ($1.38) EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock worth $2,003,248 over the last 90 days. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in shares of Wayfair during the third quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in Wayfair during the first quarter worth approximately $37,000. International Assets Investment Management LLC bought a new position in Wayfair during the 2nd quarter worth $58,000. Comerica Bank raised its holdings in Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wayfair during the 2nd quarter valued at $109,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.