Wayfair (NYSE:W) Given New $55.00 Price Target at Loop Capital

Wayfair (NYSE:W) had its price objective upped by Loop Capital from $45.00 to $55.00 in a report issued on Thursday, Benzinga reports. They currently have a hold rating on the stock.

W has been the topic of a number of other research reports. Wedbush decreased their price objective on shares of Wayfair from $70.00 to $60.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus reduced their price target on shares of Wayfair from $56.00 to $55.00 and set a hold rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price target 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. Piper Sandler reduced their price target on shares of Wayfair from $91.00 to $67.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Finally, Gordon Haskett cut shares of Wayfair from a buy rating to a hold rating in a research report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $65.83.

Wayfair Stock Up 4.8 %

Wayfair stock opened at $56.76 on Thursday. The company has a market capitalization of $6.83 billion, a PE ratio of -10.59 and a beta of 3.40. The firm has a fifty day simple moving average of $46.51 and a two-hundred day simple moving average of $54.61. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm earned ($1.27) EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts expect that Wayfair will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,113 shares of company stock worth $2,126,623. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. Vanguard Group Inc. increased its stake in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in shares of Wayfair in the first quarter worth $937,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Wayfair by 250.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after purchasing an additional 119,415 shares in the last quarter. Sei Investments Co. increased its stake in shares of Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after purchasing an additional 12,809 shares in the last quarter. Finally, Highland Peak Capital LLC purchased a new stake in shares of Wayfair in the second quarter worth $5,165,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.