Wayfair (W) Price Target Cut to $65.00 by Analysts at DA Davidson

Wayfair (NYSE:W) had its target price reduced by DA Davidson to $65.00 in a report released on Friday. They currently have a neutral rating on the stock.

W has been the subject of several other reports. Credit Suisse Group reduced their price objective on Wayfair from $78.00 to $69.00 and set a neutral rating for the company in a report on Friday, November 3rd. Cowen reaffirmed a buy rating and set a $72.00 price objective (down from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. Wedbush reduced their price objective on Wayfair from $82.00 to $72.00 and set an outperform rating for the company in a report on Friday, November 3rd. Robert W. Baird reduced their price objective on Wayfair from $73.00 to $65.00 and set a neutral rating for the company in a report on Friday, November 3rd. Finally, Citigroup reduced their price objective on Wayfair from $80.00 to $66.00 and set a buy rating for the company in a report on Friday, November 3rd. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Wayfair presently has an average rating of Hold and an average price target of $83.80.

Shares of Wayfair (NYSE:W) traded up $1.30 during mid-day trading on Friday, reaching $75.25. The company had a trading volume of 11,333,048 shares, compared to its average volume of 1,814,731. Wayfair has a 52-week low of $35.36 and a 52-week high of $100.14. The company has a quick ratio of 1.17, a current ratio of 1.19 and a debt-to-equity ratio of 135.98.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.04). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.36 billion. Wayfair had a negative return on equity of 1,424.62% and a negative net margin of 5.18%. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.34) earnings per share. research analysts predict that Wayfair will post -2.29 earnings per share for the current year.

In other news, COO James Savarese sold 11,773 shares of Wayfair stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $99.96, for a total value of $1,176,829.08. Following the completion of the sale, the chief operating officer now owns 548,695 shares of the company’s stock, valued at $54,847,552.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael D. Fleisher sold 10,000 shares of Wayfair stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the chief financial officer now directly owns 56,041 shares of the company’s stock, valued at approximately $5,548,059. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,951 shares of company stock valued at $7,312,515. Insiders own 56.93% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wayfair by 52.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803 shares of the company’s stock valued at $145,000 after purchasing an additional 624 shares during the period. Guggenheim Capital LLC grew its position in shares of Wayfair by 7.3% in the fourth quarter. Guggenheim Capital LLC now owns 9,629 shares of the company’s stock valued at $773,000 after purchasing an additional 654 shares during the period. Advisor Group Inc. grew its position in shares of Wayfair by 19.8% in the fourth quarter. Advisor Group Inc. now owns 4,023 shares of the company’s stock valued at $323,000 after purchasing an additional 666 shares during the period. Keybank National Association OH grew its position in shares of Wayfair by 8.7% in the fourth quarter. Keybank National Association OH now owns 8,620 shares of the company’s stock valued at $692,000 after purchasing an additional 690 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Wayfair by 1.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 51,345 shares of the company’s stock valued at $3,461,000 after purchasing an additional 800 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

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Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

Analyst Recommendations for Wayfair (NYSE:W)

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