Wayfair (NYSE:W) had its price target trimmed by Deutsche Bank from $175.00 to $160.00 in a research report report published on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Other research analysts have also issued reports about the company. Berenberg Bank began coverage on Wayfair in a research report on Thursday, May 9th. They issued a sell rating and a $121.00 target price on the stock. Piper Jaffray Companies set a $175.00 price target on Wayfair and gave the stock a buy rating in a research note on Friday, July 19th. Wedbush dropped coverage on Wayfair in a research note on Friday, May 3rd. Jefferies Financial Group began coverage on Wayfair in a research note on Friday, May 17th. They set a buy rating and a $192.00 price target for the company. Finally, Needham & Company LLC began coverage on Wayfair in a research note on Monday, July 1st. They set a buy rating and a $175.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $154.49.
W stock traded down $2.26 during mid-day trading on Friday, hitting $127.34. The stock had a trading volume of 2,778,443 shares, compared to its average volume of 1,454,428. Wayfair has a 1-year low of $76.60 and a 1-year high of $173.72. The business’s fifty day moving average price is $146.10. The stock has a market cap of $12.02 billion, a PE ratio of -22.70 and a beta of 1.88.
Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share for the quarter, topping the consensus estimate of ($1.97) by $0.62. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned ($0.77) earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, equities research analysts predict that Wayfair will post -8.34 EPS for the current year.
In related news, insider Edmond Macri sold 500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $150.00, for a total transaction of $75,000.00. Following the completion of the sale, the insider now owns 950 shares in the company, valued at approximately $142,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael D. Fleisher sold 477 shares of the stock in a transaction that occurred on Saturday, June 15th. The shares were sold at an average price of $156.06, for a total value of $74,440.62. Following the sale, the chief financial officer now owns 128,675 shares of the company’s stock, valued at approximately $20,081,020.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,432 shares of company stock valued at $5,079,959. 33.86% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in shares of Wayfair by 40.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock worth $45,000 after acquiring an additional 84 shares during the period. Investors Research Corp bought a new stake in shares of Wayfair in the 1st quarter worth approximately $52,000. Catamount Wealth Management bought a new stake in shares of Wayfair in the 1st quarter worth approximately $74,000. Strs Ohio bought a new stake in shares of Wayfair in the 1st quarter worth approximately $102,000. Finally, Personal Wealth Partners bought a new stake in shares of Wayfair in the 2nd quarter worth approximately $107,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
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