Wayfair Inc. (W) PT Lowered to $72.00 at Wedbush

Wayfair Inc. (NYSE:W) had its target price lowered by Wedbush from $82.00 to $72.00 in a research note released on Friday morning. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Buckingham Research restated a buy rating and set a $95.00 price objective (up previously from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. Piper Jaffray Companies set a $87.00 price objective on shares of Wayfair and gave the company a buy rating in a research report on Friday, July 28th. Wolfe Research initiated coverage on shares of Wayfair in a research report on Thursday, August 3rd. They set an outperform rating and a $88.00 price objective on the stock. Oppenheimer Holdings, Inc. set a $88.00 price objective on shares of Wayfair and gave the company a buy rating in a research report on Friday, August 4th. Finally, BidaskClub downgraded shares of Wayfair from a strong-buy rating to a buy rating in a research report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $76.01.

Shares of Wayfair (W) opened at $67.50 on Friday. Wayfair has a fifty-two week low of $27.60 and a fifty-two week high of $84.19. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 6.93.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.03. Wayfair had a negative net margin of 5.06% and a negative return on equity of 505.51%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the company posted ($0.54) earnings per share. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. research analysts expect that Wayfair will post -2.27 earnings per share for the current year.

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In other news, insider John Champlin Mulliken sold 941 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.37, for a total value of $58,690.17. Following the completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at $62,370. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 55,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $76.65, for a total transaction of $4,215,750.00. Following the completion of the sale, the chief executive officer now directly owns 72,630 shares of the company’s stock, valued at $5,567,089.50. The disclosure for this sale can be found here. Insiders sold 397,589 shares of company stock worth $27,928,955 over the last quarter. Insiders own 56.93% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of W. BNP Paribas Arbitrage SA grew its stake in Wayfair by 96.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after acquiring an additional 667 shares in the last quarter. UBS Group AG grew its stake in Wayfair by 55.5% during the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after acquiring an additional 960 shares in the last quarter. Delta Asset Management LLC TN grew its stake in Wayfair by 375.0% during the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock valued at $128,000 after acquiring an additional 1,500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Wayfair during the first quarter valued at $137,000. Finally, First Mercantile Trust Co. purchased a new position in Wayfair during the second quarter valued at $138,000. 66.24% of the stock is owned by institutional investors.

About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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