Wayfair (NYSE:W – Get Free Report) had its target price cut by Truist Financial from $70.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 28.94% from the stock’s current price.
Several other research analysts have also recently issued reports on W. Stifel Nicolaus raised their price objective on Wayfair from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Guggenheim decreased their price objective on shares of Wayfair from $100.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada lowered their price objective on Wayfair from $73.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley upgraded shares of Wayfair from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $80.00 in a research report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Wayfair in a report on Thursday, November 16th. They issued a “buy” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.21.
Get Our Latest Analysis on Wayfair
Wayfair Stock Performance
Wayfair stock opened at $50.41 on Wednesday. Wayfair has a one year low of $29.51 and a one year high of $90.71. The stock has a market cap of $5.95 billion, a PE ratio of -6.08 and a beta of 3.32. The stock has a 50-day moving average of $56.56 and a two-hundred day moving average of $58.34.
Insider Transactions at Wayfair
In other Wayfair news, insider Steven Conine sold 8,300 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $52.31, for a total transaction of $434,173.00. Following the completion of the transaction, the insider now owns 259,073 shares of the company’s stock, valued at $13,552,108.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Steven Conine sold 8,300 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.31, for a total transaction of $434,173.00. Following the completion of the transaction, the insider now directly owns 259,073 shares in the company, valued at $13,552,108.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, January 8th. The shares were sold at an average price of $55.85, for a total value of $558,500.00. Following the completion of the sale, the chief executive officer now directly owns 269,137 shares of the company’s stock, valued at $15,031,301.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,310 shares of company stock worth $3,852,316. 26.81% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Wayfair
Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. Capital World Investors grew its position in shares of Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after buying an additional 962,307 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. Spruce House Investment Management LLC grew its holdings in Wayfair by 4.3% during the 4th quarter. Spruce House Investment Management LLC now owns 3,650,000 shares of the company’s stock worth $120,048,000 after acquiring an additional 150,000 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its position in shares of Wayfair by 9.1% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock valued at $381,085,000 after purchasing an additional 285,729 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Wayfair by 30.3% in the 1st quarter. Two Sigma Investments LP now owns 1,291,717 shares of the company’s stock valued at $44,358,000 after purchasing an additional 300,645 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.
Wayfair Company Profile
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wayfair, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Wayfair wasn’t on the list.
While Wayfair currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Source: marketbeat.com
