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

Wayfair (NYSE:W) had its price objective trimmed by UBS Group from $60.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on W. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research note on Monday, March 10th. Piper Sandler set a $58.00 target price on Wayfair and gave the stock an “overweight” rating in a research report on Friday, February 21st. Canaccord Genuity Group dropped their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Bank of America dropped their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Sixteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.92.

Wayfair Price Performance

Shares of Wayfair stock opened at $25.17 on Monday. Wayfair has a 1-year low of $20.41 and a 1-year high of $76.18. The company has a market capitalization of $3.19 billion, a PE ratio of -6.26 and a beta of 3.72. The business has a 50-day moving average of $35.27 and a 200-day moving average of $42.95.

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

Insider Activity

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. This represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon Blotner sold 19,257 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total value of $610,061.76. Following the sale, the insider now directly owns 78,308 shares of the company’s stock, valued at approximately $2,480,797.44. This represents a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,863 shares of company stock worth $4,847,429 over the last 90 days. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Wayfair by 207.1% during 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 in the last quarter. J.Safra Asset Management Corp grew its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC lifted its position 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 buying an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Wayfair during the 4th quarter valued at $41,000. Institutional investors and hedge funds 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.