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

Wayfair (NYSE:W) had its price objective trimmed by Truist Financial from $60.00 to $55.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Friday. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird reduced their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Finally, Loop Capital upped 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. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Up 2.5 %

Wayfair stock traded up $1.06 during midday trading on Monday, reaching $42.99. 178,786 shares of the company were exchanged, compared to its average volume of 4,340,918. The firm’s 50-day simple moving average is $48.64 and its 200-day simple moving average is $52.26. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18.

Wayfair (NYSE:W) last issued 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 firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.38) earnings per share. Equities research analysts predict that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction 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 directly owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 37,471 shares of company stock valued at $1,987,002 in the last three months. Corporate insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently made changes to their positions in W. Vanguard Group Inc. lifted its stake in Wayfair by 4.5% during 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 during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Wayfair during the first quarter worth $937,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wayfair by 250.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Wayfair by 14.6% in the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after buying an additional 12,809 shares during the period. Finally, Highland Peak Capital LLC bought a new stake in shares of Wayfair during the 2nd quarter valued at about $5,165,000. 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.