Wayfair (NYSE:W) Price Target Lowered to $150.00 at Credit Suisse Group

Wayfair (NYSE:WGet Rating) had its price objective lowered by Credit Suisse Group from $195.00 to $150.00 in a report released on Friday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Wayfair from $75.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday, July 27th. Cowen reduced their price target on shares of Wayfair from $140.00 to $84.00 in a research report on Monday, August 1st. Piper Sandler dropped their price objective on shares of Wayfair from $65.00 to $55.00 and set a neutral rating on the stock in a research note on Wednesday, July 20th. Gordon Haskett lowered shares of Wayfair from a hold rating to a reduce rating and set a $60.00 price objective on the stock. in a research note on Thursday, May 5th. Finally, Sanford C. Bernstein started coverage on shares of Wayfair in a research note on Monday, May 23rd. They issued an underperform rating and a $45.00 price objective on the stock. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Wayfair presently has a consensus rating of Hold and a consensus target price of $96.58.

Wayfair Price Performance

W stock opened at $62.31 on Friday. Wayfair has a 12 month low of $43.31 and a 12 month high of $317.45. The firm has a market cap of $6.56 billion, a PE ratio of -13.63 and a beta of 2.91. The firm has a 50 day simple moving average of $52.87 and a 200 day simple moving average of $90.24.

Wayfair (NYSE:WGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.05). The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Wayfair’s revenue was down 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Wayfair will post -11.69 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 4,767 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $43.97, for a total value of $209,604.99. Following the completion of the sale, the chief technology officer now directly owns 23,352 shares of the company’s stock, valued at approximately $1,026,787.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Steve Oblak sold 1,722 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $45.89, for a total transaction of $79,022.58. Following the completion of the transaction, the insider now directly owns 154,643 shares of the company’s stock, valued at approximately $7,096,567.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Fiona Tan sold 4,767 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $43.97, for a total transaction of $209,604.99. Following the transaction, the chief technology officer now directly owns 23,352 shares of the company’s stock, valued at $1,026,787.44. The disclosure for this sale can be found here. Insiders sold a total of 20,251 shares of company stock valued at $994,669 in the last ninety days. Company insiders own 27.04% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in W. Allspring Global Investments Holdings LLC bought a new position in Wayfair during the 4th quarter valued at about $3,314,000. Yousif Capital Management LLC acquired a new stake in Wayfair in the 4th quarter valued at about $203,000. CWM LLC acquired a new stake in Wayfair in the 4th quarter valued at about $55,000. Nomura Asset Management Co. Ltd. increased its position in Wayfair by 1.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,616 shares of the company’s stock valued at $2,777,000 after acquiring an additional 172 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Wayfair in the 4th quarter valued at about $1,536,000. 85.89% of the stock is owned by institutional investors.

About Wayfair

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, d├ęcor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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