Wells Fargo & Company Lowers Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:WGet Rating) had its target price cut by stock analysts at Wells Fargo & Company from $65.00 to $50.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 13.72% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Cowen reduced their target price on shares of Wayfair from $275.00 to $220.00 in a report on Wednesday, May 4th. Credit Suisse Group reduced their target price on shares of Wayfair from $256.00 to $195.00 in a report on Friday, May 6th. Guggenheim reduced their target price on shares of Wayfair from $250.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Wedbush decreased their target price on shares of Wayfair from $85.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, May 6th. Finally, Zacks Investment Research raised shares of Wayfair from a “strong sell” rating to a “hold” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 26th. Ten analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Wayfair has an average rating of “Hold” and a consensus target price of $143.33.

Shares of NYSE:W traded up $3.23 on Wednesday, reaching $57.95. 36,809 shares of the company were exchanged, compared to its average volume of 4,475,210. Wayfair has a 1-year low of $45.13 and a 1-year high of $339.56. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -12.68 and a beta of 2.90. The company has a 50-day moving average of $79.15 and a 200-day moving average of $136.79.

Wayfair (NYSE:WGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($1.96) EPS for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.47. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Wayfair had a negative net margin of 3.54% and a negative return on equity of 10.52%. The firm’s revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. As a group, analysts expect that Wayfair will post -10.77 earnings per share for the current year.

In other news, CTO Fiona Tan sold 2,618 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $115.78, for a total transaction of $303,112.04. Following the completion of the transaction, the chief technology officer now owns 18,797 shares of the company’s stock, valued at $2,176,316.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steve Oblak sold 1,050 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $115.80, for a total transaction of $121,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,599 shares of company stock valued at $1,232,836. 27.04% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of W. Bank of New York Mellon Corp grew its stake in shares of Wayfair by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 260,118 shares of the company’s stock worth $66,462,000 after purchasing an additional 4,164 shares during the last quarter. Clough Capital Partners L P bought a new stake in shares of Wayfair during the 3rd quarter worth $2,887,000. Tudor Investment Corp Et Al grew its holdings in shares of Wayfair by 622.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 13,086 shares of the company’s stock worth $3,344,000 after acquiring an additional 11,274 shares during the last quarter. Delta Asset Management LLC TN acquired a new stake in shares of Wayfair during the fourth quarter worth $159,000. Finally, Carson Advisory Inc. purchased a new stake in shares of Wayfair during the fourth quarter valued at $247,000. 85.89% of the stock is owned by institutional investors and hedge funds.

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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