Wayfair (NYSE:W) Price Target Cut to $36.00 by Analysts at Truist Financial

Wayfair (NYSE:W) had its price objective reduced by Truist Financial from $53.00 to $36.00 in a research note issued to investors on Thursday, Marketbeat.com reports. Truist Financial currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Canaccord Genuity Group lowered their price target on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Bank of America dropped their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.16.

Wayfair Stock Down 11.6 %

Shares of NYSE:W opened at $26.23 on Thursday. The company’s fifty day moving average is $36.89 and its two-hundred day moving average is $43.64. The company has a market cap of $3.33 billion, a P/E ratio of -6.52 and a beta of 3.72. Wayfair has a 12-month low of $20.41 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities research analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. This trade represents a 17.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 5,669 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.83, for a total transaction of $242,803.27. Following the sale, the insider now directly owns 57,899 shares in the company, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,532 shares of company stock valued at $5,090,232. 23.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in shares of Wayfair by 8.5% in the third quarter. Quantinno Capital Management LP now owns 25,992 shares of the company’s stock valued at $1,460,000 after buying an additional 2,047 shares during the period. National Bank of Canada FI boosted its stake in Wayfair by 30.9% in the 3rd quarter. National Bank of Canada FI now owns 34,345 shares of the company’s stock worth $1,930,000 after purchasing an additional 8,102 shares during the period. XTX Topco Ltd bought a new position in Wayfair during the 3rd quarter worth about $557,000. Geode Capital Management LLC raised its stake in shares of Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after purchasing an additional 35,268 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Wayfair by 16.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after purchasing an additional 20,884 shares during the period. 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.