Maxim Group Trims Wayfair Inc. (W) Target Price to $45.00
W has been the subject of a number of other reports. Wedbush decreased their price target on Wayfair from $60.00 to $55.00 and set an outperform rating for the company in a research note on Wednesday, August 10th. Zacks Investment Research raised Wayfair from a sell rating to a hold rating in a research note on Friday, September 9th. Oppenheimer Holdings Inc. reissued a sector perform rating on shares of Wayfair in a research note on Sunday, August 14th. Vetr lowered Wayfair from a strong-buy rating to a buy rating and set a $42.28 price target for the company. in a research note on Friday, August 12th. Finally, Goldman Sachs Group Inc. lowered Wayfair from a buy rating to a neutral rating and decreased their price target for the stock from $46.00 to $43.00 in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $51.15.
Shares of Wayfair (NYSE:W) opened at 35.71 on Wednesday. The stock’s market capitalization is $3.05 billion. The company has a 50-day moving average price of $36.33 and a 200 day moving average price of $39.00. Wayfair has a 52 week low of $27.60 and a 52 week high of $50.00.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, November 8th. The company reported ($0.54) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.05. The firm earned $861.50 million during the quarter, compared to analysts’ expectations of $849.42 million. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. The company’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. Equities analysts forecast that Wayfair will post ($1.84) EPS for the current fiscal year.
In other Wayfair news, SVP Steve Oblak sold 1,125 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $39.22, for a total transaction of $44,122.50. Following the completion of the transaction, the senior vice president now owns 95,884 shares of the company’s stock, valued at $3,760,570.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeremy Delinsky sold 2,871 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $32.12, for a total value of $92,216.52. Following the transaction, the insider now directly owns 53,042 shares of the company’s stock, valued at approximately $1,703,709.04. The disclosure for this sale can be found here. 63.94% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in W. Pacer Advisors Inc. raised its stake in Wayfair by 9.2% in the third quarter. Pacer Advisors Inc. now owns 2,562 shares of the company’s stock worth $101,000 after buying an additional 216 shares during the period. BNP Paribas Arbitrage SA raised its stake in Wayfair by 112.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,629 shares of the company’s stock worth $104,000 after buying an additional 1,394 shares during the period. BlackRock Inc. raised its stake in Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock worth $105,000 after buying an additional 1,107 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Wayfair during the second quarter worth about $107,000. Finally, Legal & General Group Plc raised its stake in Wayfair by 28.8% in the second quarter. Legal & General Group Plc now owns 3,810 shares of the company’s stock worth $149,000 after buying an additional 853 shares during the period. 71.49% of the stock is owned by institutional investors and hedge funds.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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