Wayfair (NYSE:W) Price Target Cut to $50.00 by Analysts at JPMorgan Chase & Co.

Wayfair (NYSE:W) had its price objective trimmed by JPMorgan Chase & Co. from $63.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on W. BMO Capital Markets boosted their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Wedbush reaffirmed a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Loop Capital dropped their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, Raymond James set a $60.00 target price on shares of Wayfair and gave the stock a “strong-buy” rating in a research note on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Stock Performance

Wayfair stock opened at $33.25 on Monday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -8.27 and a beta of 3.44. Wayfair has a 52-week low of $32.41 and a 52-week high of $76.18. The firm has a 50 day moving average price of $43.96 and a two-hundred day moving average price of $46.03.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. As a group, equities research analysts predict that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kate Gulliver sold 5,974 shares of Wayfair stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the sale, the chief financial officer now directly owns 129,964 shares in the company, valued at $5,841,881.80. The trade was a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated 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 trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,228 shares of company stock worth $6,235,818. 26.81% of the stock is owned by insiders.

Institutional Trading of Wayfair

Several hedge funds have recently added to or reduced their stakes in W. J.Safra Asset Management Corp raised its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares during the period. GAMMA Investing LLC increased its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. True Wealth Design LLC raised its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the period. Jones Financial Companies Lllp lifted its holdings in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Wayfair during the third quarter valued at about $29,000. 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.