Loop Capital Cuts Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W) had its target price lowered by Loop Capital from $55.00 to $45.00 in a report released on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Mizuho lowered their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Truist Financial lowered their price target on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a report on Friday. Bank of America lowered their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group lowered their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday. Fourteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

Wayfair Stock Performance

NYSE:W opened at $41.92 on Friday. The stock’s 50 day moving average price is $46.42 and its 200 day moving average price is $46.50. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The company has a market capitalization of $5.25 billion, a P/E ratio of -9.34 and a beta of 3.43.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts forecast that Wayfair will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the transaction, the insider now directly owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at approximately $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 sold a total of 164,228 shares of company stock valued at $7,830,018 over the last ninety days. 26.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC increased its stake in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp increased its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair in the third quarter valued at $29,000. Finally, GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

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.