Wayfair (NYSE:W) Stock Rating Lowered by Piper Sandler

Piper Sandler cut shares of Wayfair (NYSE:WGet Rating) from an overweight rating to a neutral rating in a research report report published on Thursday morning, The Fly reports. They currently have $65.00 price objective on the stock, down from their previous price objective of $200.00.

A number of other research analysts have also recently issued reports on the stock. Barclays cut shares of Wayfair from an equal weight rating to an underweight rating and set a $103.00 price target for the company. in a research report on Friday, April 1st. Zacks Investment Research raised shares of Wayfair from a strong sell rating to a hold rating and set a $88.00 target price for the company in a report on Tuesday, April 26th. Truist Financial decreased their target price on shares of Wayfair from $240.00 to $190.00 and set a buy rating for the company in a report on Friday, February 25th. Cowen decreased their target price on shares of Wayfair from $275.00 to $220.00 in a report on Wednesday. Finally, DA Davidson decreased their target price on shares of Wayfair from $360.00 to $165.00 in a report on Friday, February 25th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $162.58.

NYSE:W traded down $5.60 during mid-day trading on Thursday, reaching $61.85. The stock had a trading volume of 98,564 shares, compared to its average volume of 3,241,058. The firm has a 50 day moving average price of $110.21 and a two-hundred day moving average price of $168.73. The stock has a market capitalization of $6.50 billion, a P/E ratio of -43.17 and a beta of 2.89. Wayfair has a one year low of $65.32 and a one year high of $339.56.

Wayfair (NYSE:WGet Rating) last announced its quarterly earnings data 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.99 billion. Wayfair had a negative return on equity of 10.52% and a negative net margin of 0.96%. The business’s revenue was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities research analysts anticipate that Wayfair will post -7.31 earnings per share for the current year.

In other Wayfair news, CFO Michael D. Fleisher sold 6,101 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $101.97, for a total transaction of $622,118.97. Following the sale, the chief financial officer now directly owns 58,788 shares in the company, valued at $5,994,612.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steve Oblak sold 1,252 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $101.94, for a total value of $127,628.88. Following the sale, the insider now owns 152,702 shares in the company, valued at $15,566,441.88. The disclosure for this sale can be found here. Insiders sold 11,599 shares of company stock worth $1,233,647 over the last quarter. 27.04% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Cetera Investment Advisers grew its stake in Wayfair by 3.7% in the third quarter. Cetera Investment Advisers now owns 1,256 shares of the company’s stock worth $321,000 after purchasing an additional 45 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Wayfair by 0.4% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,612 shares of the company’s stock worth $3,478,000 after purchasing an additional 52 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Wayfair by 0.8% in the fourth quarter. IFM Investors Pty Ltd now owns 9,640 shares of the company’s stock worth $1,831,000 after purchasing an additional 74 shares in the last quarter. Northeast Investment Management grew its stake in Wayfair by 2.7% in the fourth quarter. Northeast Investment Management now owns 2,952 shares of the company’s stock worth $561,000 after purchasing an additional 78 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Wayfair by 2.4% during the fourth quarter. WINTON GROUP Ltd now owns 4,082 shares of the company’s stock worth $775,000 after buying an additional 97 shares during the period. 85.89% of the stock is currently owned by hedge funds and other institutional investors.

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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