Wayfair (NYSE:W) Given New $68.00 Price Target at Canaccord Genuity Group

Wayfair (NYSE:W) had its price objective decreased by Canaccord Genuity Group from $76.00 to $68.00 in a report issued on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also weighed in on W. Robert W. Baird decreased their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Loop Capital upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Wayfair Stock Performance

Shares of NYSE:W opened at $41.92 on Friday. The company’s 50 day moving average price is $46.42 and its two-hundred day moving average price is $46.50. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last released its 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 business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts forecast that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,669 shares of the business’s 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 directly owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. The trade was a 8.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,228 shares of company stock worth $7,830,018 in the last 90 days. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of W. Capital World Investors raised its stake in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares during the period. Vanguard Group Inc. increased its stake in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Wayfair by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after buying an additional 581,000 shares in the last quarter. Finally, Southpoint Capital Advisors LP boosted its holdings in Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after buying an additional 1,400,000 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.