Wayfair (NYSE:W) had its price target boosted by Cowen from $120.00 to $130.00 in a report released on Friday, The Fly reports. Cowen currently has a positive rating on the stock.
A number of other research analysts also recently weighed in on the company. Bank of America downgraded Wayfair from a buy rating to a neutral rating and increased their target price for the company from $130.00 to $160.00 in a report on Thursday, September 13th. Zacks Investment Research downgraded Wayfair from a hold rating to a sell rating in a report on Thursday, October 4th. Citigroup lowered their target price on Wayfair from $140.00 to $105.00 and set a neutral rating on the stock in a report on Friday, November 2nd. Wells Fargo & Co started coverage on Wayfair in a report on Wednesday, September 12th. They issued a market perform rating and a $150.00 target price on the stock. Finally, Wolfe Research lowered their target price on Wayfair from $143.00 to $135.00 and set an outperform rating on the stock in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Wayfair has a consensus rating of Hold and an average target price of $126.50.
Shares of Wayfair stock traded down $6.25 during trading on Friday, hitting $104.77. 1,787,901 shares of the company’s stock traded hands, compared to its average volume of 2,735,651. Wayfair has a 1 year low of $60.53 and a 1 year high of $151.20. The stock has a market capitalization of $10.03 billion, a PE ratio of -37.42 and a beta of 1.81.
Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, November 1st. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned ($0.65) earnings per share. Wayfair’s revenue was up 42.4% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair will post -5.72 earnings per share for the current fiscal year.
In other news, CEO Niraj Shah sold 21,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $135.75, for a total value of $2,850,750.00. Following the transaction, the chief executive officer now owns 48,566 shares of the company’s stock, valued at $6,592,834.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Conine sold 26,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $137.11, for a total value of $3,564,860.00. Following the sale, the insider now owns 48,538 shares of the company’s stock, valued at approximately $6,655,045.18. The disclosure for this sale can be found here. Insiders sold 380,099 shares of company stock worth $50,817,089 in the last ninety days. Corporate insiders own 37.75% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its position in shares of Wayfair by 26.8% during the second quarter. Voya Investment Management LLC now owns 17,638 shares of the company’s stock worth $2,095,000 after purchasing an additional 3,726 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Wayfair by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 159,649 shares of the company’s stock valued at $18,960,000 after buying an additional 9,588 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wayfair by 43.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,318 shares of the company’s stock valued at $394,000 after buying an additional 1,002 shares in the last quarter. Swiss National Bank grew its holdings in Wayfair by 46.0% during the 2nd quarter. Swiss National Bank now owns 100,600 shares of the company’s stock valued at $11,947,000 after buying an additional 31,700 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in Wayfair by 7.8% during the 2nd quarter. United Services Automobile Association now owns 6,685 shares of the company’s stock valued at $794,000 after buying an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.
Wayfair Company Profile
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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