Wayfair (NYSE:W) Price Target Lowered to $50.00 at Bank of America

Wayfair (NYSE:W) had its price objective lowered by Bank of America from $52.00 to $50.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Truist Financial decreased their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler dropped their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada reduced their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Finally, Loop Capital raised their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

Wayfair Stock Performance

W stock opened at $41.92 on Friday. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18. The business has a 50-day moving average price of $46.42 and a 200 day moving average price of $46.50.

Wayfair (NYSE:W) last posted its quarterly earnings results 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. On average, equities analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. The trade was a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock valued at $7,830,018 over the last quarter. 26.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair during the 3rd quarter worth about $29,000. True Wealth Design LLC increased its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp boosted its position in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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 purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.