UBS Group Lowers Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price objective reduced by UBS Group from $60.00 to $55.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Truist Financial reduced their price target on Wayfair from $53.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Canaccord Genuity Group cut their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a research 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 report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Friday, February 21st. Sixteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.92.

Wayfair Stock Performance

NYSE:W opened at $25.17 on Monday. The company has a market capitalization of $3.19 billion, a P/E ratio of -6.26 and a beta of 3.72. The stock’s 50 day moving average price is $35.27 and its 200 day moving average price is $42.95. Wayfair has a 52 week low of $20.41 and a 52 week high of $76.18.

Wayfair (NYSE:W) last announced 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 the consensus estimate of $3.07 billion. As a group, sell-side analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 23,835 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 122,863 shares of company stock valued at $4,847,429. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. J.Safra Asset Management Corp grew its holdings in Wayfair by 71.3% during the 4th 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 last quarter. GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after purchasing an additional 383 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares in the last quarter. 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.