Wayfair (NYSE:W) Given New $63.00 Price Target at Piper Sandler

Wayfair (NYSE:W) had its price target cut by Piper Sandler from $67.00 to $63.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

W has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price target on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada cut their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Citigroup reduced their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Twelve analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and a consensus target price of $64.64.

Wayfair Stock Up 0.1 %

NYSE W opened at $44.43 on Monday. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The business has a 50 day moving average price of $48.77 and a two-hundred day moving average price of $52.89. The stock has a market cap of $5.49 billion, a PE ratio of -8.40 and a beta of 3.42.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the firm posted ($1.27) earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Activity at Wayfair

In related news, 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 owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Wayfair 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 value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,891 shares of company stock worth $2,007,213 over the last ninety days. 23.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

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

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.