Loop Capital Trims Wayfair (NYSE:W) Target Price to $50.00

Wayfair (NYSE:W) had its target price cut by Loop Capital from $60.00 to $50.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on W. Wedbush reiterated an outperform rating and set a $70.00 price objective on shares of Wayfair in a research report on Friday, May 3rd. Sanford C. Bernstein raised their price objective on Wayfair from $50.00 to $55.00 and gave the company a market perform rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Wayfair from $63.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price objective on Wayfair from $61.00 to $65.00 and gave the company a sector perform rating in a research note on Monday, May 6th. Finally, StockNews.com raised Wayfair from a sell rating to a hold rating in a research note on Saturday, June 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $78.50.

Wayfair Stock Performance

Shares of W opened at $50.94 on Friday. The stock has a 50 day simple moving average of $59.16 and a 200 day simple moving average of $58.66. Wayfair has a 52-week low of $38.37 and a 52-week high of $90.71. The firm has a market capitalization of $6.13 billion, a PE ratio of -9.50 and a beta of 3.39.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. Equities research analysts predict that Wayfair will post -2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 3,282 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the sale, the insider now directly owns 48,322 shares in the company, valued at $3,049,118.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Jon Blotner sold 3,282 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total transaction of $207,094.20. Following the sale, the insider now directly owns 48,322 shares in the company, valued at approximately $3,049,118.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the sale, the chief executive officer now owns 239,137 shares in the company, valued at $15,443,467.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,680 shares of company stock valued at $4,164,783. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently added to or reduced their stakes in the business. Capital World Investors increased its position in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the last quarter. Norges Bank bought a new position in Wayfair during the 4th quarter worth approximately $47,374,000. AQR Capital Management LLC grew its position in Wayfair by 422.6% during the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after acquiring an additional 413,592 shares during the last quarter. Vanguard Group Inc. grew its position in Wayfair by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Wayfair in the 4th quarter worth approximately $23,552,000. 89.67% of the stock is currently owned by 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.