BMO Capital Markets Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its price objective cut by BMO Capital Markets from $58.00 to $50.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 19.27% from the company’s current price.

Other analysts have also issued research reports about the stock. Robert W. Baird lowered their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Citigroup lowered their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial lowered their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday. Thirteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.36.

Wayfair Stock Up 4.4 %

W stock traded up $1.77 during trading on Monday, hitting $41.92. 4,905,426 shares of the company’s stock traded hands, compared to its average volume of 4,338,859. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The stock has a fifty day moving average price of $48.69 and a two-hundred day moving average price of $52.35. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -7.83 and a beta of 3.46.

Wayfair (NYSE:W) last released its 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 business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm posted ($1.27) EPS. Wayfair’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jon Blotner sold 4,600 shares of the company’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 transaction, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Fiona Tan sold 10,040 shares of the company’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 transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,471 shares of company stock valued at $1,987,002. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently made changes to their positions in the business. WealthPlan Investment Management LLC increased its holdings in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after purchasing an additional 271 shares during the period. Creative Planning increased its holdings in shares of Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Wayfair by 12.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after purchasing an additional 399 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after purchasing an additional 471 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.