Wayfair (NYSE:W) Price Target Lowered to $45.00 at UBS Group

Wayfair (NYSE:WGet Rating) had its target price lowered by UBS Group from $65.00 to $45.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 18.80% from the company’s current price.

Several other brokerages also recently commented on W. MKM Partners initiated coverage on shares of Wayfair in a research report on Thursday, July 28th. They set a “neutral” rating and a $50.00 price objective for the company. Credit Suisse Group lowered their target price on shares of Wayfair from $195.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. Cowen dropped their price target on shares of Wayfair from $140.00 to $84.00 in a research report on Monday, August 1st. Truist Financial dropped their target price on shares of Wayfair from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Finally, Cowen cut their price target on shares of Wayfair from $140.00 to $84.00 in a report on Monday, August 1st. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.19.

Wayfair Stock Down 3.4 %

Shares of W traded down $1.32 during trading hours on Friday, hitting $37.88. The company had a trading volume of 54,696 shares, compared to its average volume of 3,724,706. Wayfair has a 12 month low of $38.70 and a 12 month high of $298.00. The business has a fifty day moving average of $55.06 and a 200-day moving average of $70.26. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -4.06 and a beta of 2.87.

Wayfair (NYSE:WGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($3.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.24) by $0.03. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.19 billion. The business’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, equities analysts expect that Wayfair will post -12.28 EPS for the current fiscal year.

Insider Activity

In related news, CFO Michael D. Fleisher sold 5,874 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $53.99, for a total transaction of $317,137.26. Following the completion of the sale, the chief financial officer now directly owns 66,664 shares in the company, valued at $3,599,189.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wayfair news, insider Steve Oblak sold 1,687 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $46.59, for a total transaction of $78,597.33. Following the transaction, the insider now directly owns 160,746 shares in the company, valued at $7,489,156.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael D. Fleisher sold 5,874 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $53.99, for a total transaction of $317,137.26. Following the sale, the chief financial officer now directly owns 66,664 shares in the company, valued at $3,599,189.36. The disclosure for this sale can be found here. Insiders sold 20,199 shares of company stock worth $993,625 over the last three months. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in shares of Wayfair by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 13,716 shares of the company’s stock valued at $2,605,000 after purchasing an additional 280 shares during the period. Charles Schwab Investment Management Inc. raised its position in Wayfair by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,395 shares of the company’s stock worth $44,908,000 after acquiring an additional 7,085 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Wayfair by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 925,784 shares of the company’s stock valued at $175,611,000 after acquiring an additional 37,909 shares during the period. Schroder Investment Management Group lifted its holdings in Wayfair by 56.9% in the fourth quarter. Schroder Investment Management Group now owns 2,437 shares of the company’s stock valued at $462,000 after acquiring an additional 884 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Wayfair during the 4th quarter worth $232,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

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, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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