Wayfair (NYSE:W) PT Lowered to $195.00 at Credit Suisse Group

Wayfair (NYSE:WGet Rating) had its price target lowered by stock analysts at Credit Suisse Group from $256.00 to $195.00 in a research note issued on Friday, The Fly reports. Credit Suisse Group’s price objective would indicate a potential upside of 189.10% from the company’s previous close.

Several other analysts have also recently weighed in on W. Jefferies Financial Group cut their price target on shares of Wayfair from $247.00 to $149.00 and set a “hold” rating on the stock in a report on Monday, February 14th. TheStreet cut shares of Wayfair from a “c-” rating to a “d+” rating in a report on Thursday, January 6th. Wells Fargo & Company cut shares of Wayfair from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $110.00 to $100.00 in a report on Thursday, April 7th. Gordon Haskett cut shares of Wayfair from a “hold” rating to a “reduce” rating and set a $60.00 target price on the stock. in a report on Thursday. Finally, UBS Group dropped their target price on shares of Wayfair from $150.00 to $135.00 and set a “neutral” rating on the stock in a report on Friday, February 25th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.58.

NYSE:W opened at $67.45 on Friday. The stock has a market cap of $7.09 billion, a P/E ratio of -49.23 and a beta of 2.89. The firm’s fifty day simple moving average is $110.21 and its 200 day simple moving average is $168.73. Wayfair has a twelve month low of $65.32 and a twelve month high of $339.56.

Wayfair (NYSE:WGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($1.96) earnings per share for the quarter, beating the consensus estimate of ($2.43) by $0.47. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Wayfair had a negative net margin of 0.96% and a negative return on equity of 10.52%. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Analysts predict that Wayfair will post -7.31 earnings per share for the current fiscal year.

In related news, COO Thomas Netzer sold 288 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $115.77, for a total value of $33,341.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steve Oblak sold 1,252 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $101.94, for a total transaction of $127,628.88. Following the completion of the sale, the insider now owns 152,702 shares in the company, valued at approximately $15,566,441.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,599 shares of company stock worth $1,233,647. Corporate insiders own 27.04% of the company’s stock.

A number of hedge funds have recently modified their holdings of W. Monolith Advisors bought a new position in Wayfair in the fourth quarter worth approximately $26,000. Confluence Wealth Services Inc. bought a new position in Wayfair in the fourth quarter worth approximately $27,000. Neo Ivy Capital Management bought a new position in Wayfair in the fourth quarter worth approximately $28,000. Gables Capital Management Inc. bought a new position in Wayfair in the third quarter worth approximately $51,000. Finally, Steward Partners Investment Advisory LLC raised its position in Wayfair by 227.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 252 shares of the company’s stock worth $48,000 after acquiring an additional 175 shares during the period. Institutional investors own 85.89% of the company’s stock.

About Wayfair (Get Rating)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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