Citigroup Issues Pessimistic Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price objective dropped by research analysts at Citigroup from $70.00 to $54.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 28.82% from the company’s previous close.

A number of other brokerages also recently issued reports on W. Loop Capital boosted their price target on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research report on Friday. Stifel Nicolaus dropped their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday. Finally, StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $61.36.

Wayfair Trading Up 4.4 %

NYSE:W traded up $1.77 during mid-day trading on Monday, hitting $41.92. 4,905,426 shares of the company’s stock were exchanged, compared to its average volume of 4,338,859. The company has a 50 day simple moving average of $48.69 and a 200-day simple moving average of $52.35. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The firm has a market capitalization of $5.18 billion, a P/E ratio of -7.83 and a beta of 3.46.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the company posted ($1.27) EPS. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts expect that Wayfair will post -2.68 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock worth $1,987,002 in the last quarter. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the company. WealthPlan Investment Management LLC lifted its holdings in shares of Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after buying an additional 271 shares in the last quarter. Creative Planning increased its position in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Wayfair in the third quarter worth approximately $29,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.