Wayfair (NYSE:W) PT Lowered to $110.00

Wayfair (NYSE:W) had its target price lowered by research analysts at JPMorgan Chase & Co. from $115.00 to $110.00 in a research report issued on Friday, November 2nd. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 17.76% from the company’s previous close.

Several other brokerages also recently commented on W. Citigroup cut their price objective on shares of Wayfair from $140.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Robert W. Baird cut their price objective on shares of Wayfair from $118.00 to $108.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Canaccord Genuity cut their price objective on shares of Wayfair from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Cowen increased their price objective on shares of Wayfair from $85.00 to $134.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Finally, Wolfe Research cut their price objective on shares of Wayfair from $143.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $126.06.

Shares of NYSE:W traded down $4.64 during midday trading on Friday, reaching $93.41. The company’s stock had a trading volume of 1,830,201 shares, compared to its average volume of 2,268,794. The company has a market capitalization of $8.78 billion, a PE ratio of -33.36 and a beta of 1.84. Wayfair has a 12-month low of $57.89 and a 12-month high of $151.20.

Wayfair (NYSE:W) last released its earnings results on Thursday, November 1st. The company reported ($1.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wayfair’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.65) earnings per share. As a group, analysts expect that Wayfair will post -5.57 EPS for the current fiscal year.

In other news, insider Steven Conine sold 1,145 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $121.19, for a total value of $138,762.55. Following the transaction, the insider now owns 60,653 shares in the company, valued at approximately $7,350,537.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmond Macri sold 600 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $122.32, for a total transaction of $73,392.00. Following the completion of the transaction, the insider now owns 58,208 shares in the company, valued at approximately $7,120,002.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 448,754 shares of company stock worth $60,020,159. Insiders own 37.75% of the company’s stock.

Large investors have recently modified their holdings of the company. Baldwin Brothers Inc. MA bought a new position in shares of Wayfair in the 3rd quarter worth approximately $241,000. TradeLink Capital LLC bought a new position in shares of Wayfair in the 3rd quarter worth approximately $251,000. Engineers Gate Manager LP bought a new position in shares of Wayfair in the 2nd quarter worth approximately $208,000. Peregrine Asset Advisers Inc. bought a new stake in Wayfair during the 2nd quarter worth approximately $214,000. Finally, World Asset Management Inc bought a new stake in Wayfair during the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Analyst Recommendations for Wayfair (NYSE:W)

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