Wayfair (NYSE:W) Sets New 12-Month Low – What’s Next?

Wayfair Inc. (NYSE:W) hit a new 52-week low on Tuesday . The stock traded as low as $30.86 and last traded at $30.94, with a volume of 232529 shares traded. The stock had previously closed at $32.10.

Analyst Upgrades and Downgrades

W has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Loop Capital lowered their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, Raymond James set a $60.00 price target on Wayfair and gave the stock a “strong-buy” rating in a research note on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Stock Up 5.5 %

The firm has a market capitalization of $4.03 billion, a PE ratio of -7.89 and a beta of 3.44. The firm’s 50 day moving average price is $42.47 and its two-hundred day moving average price is $45.63.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the transaction, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at $4,336,374.87. The trade was a 7.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the sale, the insider now directly owns 602,573 shares in the company, valued at $27,567,714.75. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,189 shares of company stock worth $6,183,193 in the last three months. 26.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. True Wealth Design LLC raised 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 worth $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the period. Jones Financial Companies Lllp raised its position in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair during the 3rd quarter valued at about $44,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.