Wayfair (NYSE:W) Price Target Cut to $31.00 by Analysts at The Goldman Sachs Group

Wayfair (NYSE:W) had its price objective cut by investment analysts at The Goldman Sachs Group from $50.00 to $31.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 14.74% from the stock’s current price.

Several other brokerages have also issued reports on W. Wedbush reissued a “neutral” rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $47.00 in a report on Friday, March 7th. Citigroup cut Wayfair from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $58.00 to $28.00 in a research note on Friday, April 4th. Finally, Bank of America reduced their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Sixteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.00.

Wayfair Stock Up 4.7 %

Shares of Wayfair stock traded up $1.21 during trading on Tuesday, reaching $27.02. 843,482 shares of the company were exchanged, compared to its average volume of 4,604,161. Wayfair has a twelve month low of $20.41 and a twelve month high of $76.18. The business has a 50-day moving average price of $34.16 and a 200-day moving average price of $42.21. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -6.68 and a beta of 3.72.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. The trade was a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,863 shares of company stock valued at $3,393,929 over the last three months. Insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently bought and sold shares of W. True Wealth Design LLC raised its position in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of 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 purchasing an additional 502 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the fourth quarter valued at about $41,000. 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.