Wayfair (NYSE:W) Price Target Cut to $50.00 by Analysts at BMO Capital Markets

Wayfair (NYSE:W) had its target price lowered by BMO Capital Markets from $58.00 to $50.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research analysts have also recently commented on W. Royal Bank of Canada dropped their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $58.00 in a report on Thursday, August 1st. Barclays dropped their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading 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 firm’s 50-day moving average price is $48.57 and its two-hundred day moving average price is $52.03.

Wayfair (NYSE:W) last posted its 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 company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted ($1.38) EPS. Equities research analysts anticipate that Wayfair will post -2.68 EPS for the current year.

Insider Transactions at Wayfair

In other 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 transaction of $246,560.00. Following the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the sale, the insider now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the business’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 completion of the sale, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. 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 in the last ninety days. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after buying an additional 119,415 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Wayfair by 118.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after buying an additional 9,108 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in 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. Signaturefd LLC grew its holdings in Wayfair by 1.3% during the 1st quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock valued at $14,016,000 after buying an additional 2,714 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Wayfair during the 1st quarter valued at about $37,000. 89.67% of the stock is currently owned by 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.