Wayfair (NYSE:W) Price Target Lowered to $50.00 at Royal Bank of Canada

Wayfair (NYSE:W) had its target price reduced by Royal Bank of Canada from $53.00 to $50.00 in a research note published on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also issued reports on W. JPMorgan Chase & Co. reduced their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial reduced their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets cut their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Piper Sandler cut their target price on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Down 1.6 %

NYSE W opened at $39.78 on Monday. Wayfair has a twelve month low of $37.60 and a twelve 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 quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm earned ($1.38) earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares in the company, valued at approximately $6,257,088.35. 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 ninety days, insiders have sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 363,948 shares during the period. 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. raised its holdings in shares of Wayfair by 250.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after acquiring an additional 119,415 shares during the period. Sei Investments Co. raised its holdings in shares of Wayfair by 14.6% during the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after acquiring an additional 12,809 shares during the period. Finally, Highland Peak Capital LLC acquired a new stake in shares of Wayfair during the second quarter worth $5,165,000. 89.67% of the stock is currently 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.