Wayfair (NYSE:W) Price Target Cut to $65.00

Wayfair (NYSE:W) had its price target reduced by Raymond James from $70.00 to $65.00 in a research report report published on Friday, Benzinga reports. They currently have a strong-buy rating on the stock.

Several other brokerages also recently weighed in on W. Truist Financial dropped their target price on Wayfair from $70.00 to $60.00 and set a buy rating on the stock in a research note on Friday. Loop Capital cut their price objective on shares of Wayfair from $60.00 to $50.00 and set a hold rating on the stock in a report on Friday, June 21st. StockNews.com cut shares of Wayfair from a hold rating to a sell rating in a research note on Sunday, June 23rd. Morgan Stanley boosted their target price on shares of Wayfair from $85.00 to $90.00 and gave the stock an overweight rating in a research report on Monday, May 13th. Finally, Sanford C. Bernstein raised their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a market perform rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $73.83.

Wayfair Stock Down 4.5 %

Shares of NYSE:W traded down $2.24 during trading on Friday, reaching $47.77. The stock had a trading volume of 5,973,354 shares, compared to its average volume of 4,472,972. The firm’s 50-day simple moving average is $53.95 and its 200 day simple moving average is $57.18. Wayfair has a one year low of $38.37 and a one year high of $90.71.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. On average, equities analysts anticipate that Wayfair will post -2.93 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the completion of the transaction, the insider now directly owns 229,073 shares of the company’s stock, valued at approximately $15,636,522.98. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total transaction of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the transaction, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders sold a total of 59,682 shares of company stock worth $3,306,949 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Large investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in Wayfair during the 1st quarter worth $27,000. GAMMA Investing LLC acquired a new position in Wayfair during the fourth quarter worth about $31,000. ORG Partners LLC purchased a new stake in Wayfair during the 1st quarter valued at about $37,000. International Assets Investment Management LLC acquired a new stake in Wayfair in the 2nd quarter valued at about $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Wayfair in the 4th quarter worth approximately $74,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.