Wayfair (NYSE:W) Price Target Lowered to $46.00 at Deutsche Bank Aktiengesellschaft

Wayfair (NYSE:W) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $69.00 to $46.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research report on Friday. Wedbush decreased their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday. BMO Capital Markets decreased their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday. Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Argus cut Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

Shares of Wayfair stock traded up $1.06 on Monday, hitting $42.99. The stock had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. The stock has a 50 day moving average of $48.64 and a 200 day moving average of $52.26. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company posted ($1.38) earnings per share. Wayfair’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at approximately $4,491,794.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,471 shares of company stock worth $1,987,002. Insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds have recently added to or reduced their stakes in W. Capital Performance Advisors LLP acquired a new stake in Wayfair during the third quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in shares of Wayfair in the 1st quarter worth about $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the 2nd quarter valued at about $58,000. Comerica Bank increased its stake in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Wayfair during the 2nd quarter valued at about $109,000. Institutional investors and hedge funds 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.