Loop Capital Raises Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price raised by research analysts at Loop Capital from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s target price would suggest a potential upside of 5.18% from the company’s current price.

A number of other equities analysts have also recently commented on W. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. BMO Capital Markets lowered their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Finally, Citigroup cut their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Down 1.8 %

Shares of Wayfair stock opened at $52.29 on Monday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The stock’s 50-day simple moving average is $46.93 and its 200-day simple moving average is $48.98. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of -11.65 and a beta of 3.44.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.38) EPS. On average, equities analysts expect that Wayfair will post -2.91 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,868 shares of company stock worth $4,866,748 in the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after purchasing an additional 829 shares during the period. Lecap Asset Management Ltd. boosted its position in Wayfair by 63.2% in the 2nd quarter. Lecap Asset Management Ltd. now owns 23,910 shares of the company’s stock valued at $1,261,000 after buying an additional 9,261 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Wayfair by 12.2% in the second quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock worth $15,319,000 after acquiring an additional 31,576 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Wayfair by 23.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock worth $33,549,000 after acquiring an additional 121,792 shares during the period. Finally, My Personal CFO LLC purchased a new position in Wayfair in the second quarter valued at $1,201,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

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.