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

Wayfair (NYSE:W) had its price target cut by investment analysts at Guggenheim from $60.00 to $50.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 48.10% from the company’s previous close.

W has been the topic of a number of other research reports. Truist Financial dropped their target price on Wayfair from $53.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Evercore ISI lifted their price objective on shares of Wayfair from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Wedbush restated a “neutral” rating and set a $46.00 target price (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Citigroup lifted their price target on shares of Wayfair from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, BMO Capital Markets increased their price objective on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.79.

Wayfair Stock Up 8.1 %

Wayfair stock opened at $33.76 on Friday. Wayfair has a twelve month low of $20.41 and a twelve month high of $76.18. The company has a 50 day moving average of $31.32 and a 200-day moving average of $40.75. The stock has a market capitalization of $4.28 billion, a PE ratio of -8.40 and a beta of 3.72.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the company posted ($0.32) earnings per share. Wayfair’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts anticipate that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the sale, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,863 shares of company stock valued at $3,393,929. 21.91% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC grew its position in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. GAMMA Investing LLC increased its position in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Wayfair in the 4th quarter valued at approximately $41,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.