Loop Capital Increases Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price hoisted by equities researchers at Loop Capital from $45.00 to $55.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s target price points to a potential downside of 3.07% from the company’s previous close.

Several other equities analysts have also recently weighed in on W. Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial reduced their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. JPMorgan Chase & Co. reduced their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup reduced their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.83.

Wayfair Price Performance

Shares of W opened at $56.74 on Thursday. The firm has a market cap of $6.83 billion, a PE ratio of -10.59 and a beta of 3.40. The stock’s fifty day moving average price is $46.40 and its two-hundred day moving average price is $54.67. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.27) EPS. Sell-side analysts anticipate that Wayfair will post -2.66 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the transaction, the chief executive officer now owns 209,137 shares in the company, valued at approximately $11,004,788.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,113 shares of company stock valued at $2,126,623. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares during the period. SageView Advisory Group LLC bought a new position in Wayfair during the 1st quarter valued at approximately $937,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Wayfair by 250.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after buying an additional 119,415 shares during the last quarter. Sei Investments Co. boosted its holdings in Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after acquiring an additional 12,809 shares in the last quarter. Finally, Highland Peak Capital LLC purchased a new stake in shares of Wayfair in the second quarter worth $5,165,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.