Wayfair (NYSE:W) Given New $50.00 Price Target at BMO Capital Markets

Wayfair (NYSE:W) had its price target cut by BMO Capital Markets from $58.00 to $50.00 in a research report released on Monday,Benzinga reports. They currently have a market perform rating on the stock.

W has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped 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. Loop Capital boosted their price objective on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Piper Sandler lowered their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $58.00 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

Shares of NYSE W opened at $39.78 on Monday. Wayfair has a 12 month low of $37.60 and a 12 month high of $76.18. The business has a 50-day moving average of $48.57 and a 200-day moving average of $52.03.

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

Insider Activity at Wayfair

In related news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Wayfair news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated 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 directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock valued at $2,003,248 over the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its stake in shares of Wayfair by 0.7% in the third quarter. Swiss National Bank now owns 178,500 shares of the company’s stock worth $10,028,000 after buying an additional 1,200 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Wayfair by 18.3% in the third quarter. Oppenheimer & Co. Inc. now owns 9,541 shares of the company’s stock worth $536,000 after buying an additional 1,479 shares during the period. Entropy Technologies LP grew its position in shares of Wayfair by 33.4% during the third quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock worth $1,767,000 after purchasing an additional 7,884 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Wayfair by 24.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock worth $2,505,000 after purchasing an additional 8,675 shares in the last quarter. Finally, River Global Investors LLP grew its position in shares of Wayfair by 3.9% during the third quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock worth $1,534,000 after purchasing an additional 1,017 shares in the last quarter. 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.