Wayfair (NYSE:W) Price Target Lowered to $50.00 at BMO Capital Markets

Wayfair (NYSE:W) had its price objective lowered by BMO Capital Markets from $58.00 to $50.00 in a research note released on Monday, Benzinga reports. The firm currently has a market perform rating on the stock.

W has been the topic of several other research reports. Wedbush lowered their price objective on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Barclays dropped their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Price Performance

Shares of NYSE:W traded up $1.06 on Monday, hitting $42.99. The company had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. The stock has a 50 day moving average price of $48.64 and a 200 day moving average price of $52.26. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.38) earnings per share. Equities analysts expect that Wayfair will post -2.68 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,471 shares of company stock valued at $1,987,002. 23.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors lifted its position in shares of Wayfair by 0.9% in the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the period. Vanguard Group Inc. lifted its holdings in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after buying an additional 363,948 shares during the period. Renaissance Technologies LLC boosted its position in Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP grew its holdings in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the period. Finally, Maverick Capital Ltd. grew its holdings in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares during the period. 89.67% of the stock is 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.