UBS Group Trims Wayfair (NYSE:W) Target Price to $65.00

Wayfair (NYSE:W) had its price objective trimmed by UBS Group from $70.00 to $65.00 in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on W. Royal Bank of Canada cut their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus decreased their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Loop Capital lifted their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lowered their target price on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays cut their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Twelve research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $65.20.

Wayfair Stock Down 2.4 %

Shares of NYSE:W opened at $45.32 on Tuesday. The company’s fifty day moving average is $48.77 and its two-hundred day moving average is $53.19. The company has a market cap of $5.60 billion, a P/E ratio of -8.57 and a beta of 3.42. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18.

Wayfair (NYSE:W) last posted 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 during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm earned ($1.27) earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Wayfair will post -2.68 earnings per share for the current year.

Insider Activity

In other Wayfair news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,891 shares of company stock worth $2,007,213. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Wayfair by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock worth $500,014,000 after buying an additional 273,652 shares during the period. RFG Advisory LLC bought a new position in Wayfair in the first quarter valued at approximately $283,000. Riverview Trust Co bought a new stake in shares of Wayfair during the 1st quarter valued at $27,000. Diversified Trust Co bought a new position in Wayfair during the first quarter worth about $231,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Wayfair by 29.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,441 shares of the company’s stock valued at $34,920,000 after buying an additional 115,646 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

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.