Loop Capital Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price objective decreased by investment analysts at Loop Capital from $55.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target suggests a potential upside of 4.77% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial lowered their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird lowered their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday. BMO Capital Markets lowered their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler reduced their target price on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.52.

Wayfair Stock Performance

NYSE:W traded down $3.11 during midday trading on Friday, reaching $42.95. 2,186,845 shares of the stock traded hands, compared to its average volume of 3,646,238. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The business has a 50-day moving average of $46.42 and a two-hundred day moving average of $46.50. The stock has a market capitalization of $5.38 billion, a PE ratio of -9.57 and a beta of 3.43.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Research analysts anticipate that Wayfair will post -2.89 earnings per share for the current year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the transaction, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. The trade was a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,228 shares of company stock worth $6,440,118 over the last 90 days. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its holdings in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after purchasing an additional 782,757 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Wayfair by 17.9% in the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after purchasing an additional 581,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its holdings in Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock valued at $124,096,000 after purchasing an additional 1,400,000 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.