Wayfair (NYSE:W) Given New $84.00 Price Target at Cowen

Wayfair (NYSE:WGet Rating) had its target price lowered by Cowen from $140.00 to $84.00 in a research report report published on Monday morning, Stock Target Advisor reports.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein assumed coverage on Wayfair in a report on Monday, May 23rd. They set an underperform rating and a $45.00 price target on the stock. UBS Group reduced their target price on Wayfair from $75.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, July 27th. Loop Capital reduced their target price on Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. Evercore ISI reduced their target price on Wayfair to $65.00 in a report on Thursday, June 9th. Finally, Credit Suisse Group reduced their target price on Wayfair from $256.00 to $195.00 in a report on Friday, May 6th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $99.96.

Wayfair Stock Up 5.4 %

W stock opened at $56.82 on Monday. The firm has a market cap of $5.98 billion, a PE ratio of -12.43 and a beta of 2.92. The business has a 50 day moving average of $52.15 and a 200 day moving average of $92.12. Wayfair has a twelve month low of $43.31 and a twelve month high of $317.45.

Wayfair (NYSE:WGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($3.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.59) by ($0.44). The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Wayfair’s revenue was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. On average, research analysts expect that Wayfair will post -11.87 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CFO Michael D. Fleisher sold 5,874 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $53.99, for a total value of $317,137.26. Following the transaction, the chief financial officer now directly owns 66,664 shares of the company’s stock, valued at approximately $3,599,189.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Fiona Tan sold 4,767 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $43.97, for a total value of $209,604.99. Following the completion of the sale, the chief technology officer now directly owns 23,352 shares of the company’s stock, valued at $1,026,787.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael D. Fleisher sold 5,874 shares of Wayfair stock in a transaction on Monday, July 18th. The shares were sold at an average price of $53.99, for a total transaction of $317,137.26. Following the completion of the transaction, the chief financial officer now owns 66,664 shares in the company, valued at $3,599,189.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,944 shares of company stock valued at $864,383 in the last ninety days. 27.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of W. Arizona State Retirement System increased its stake in shares of Wayfair by 3.1% during the first quarter. Arizona State Retirement System now owns 20,621 shares of the company’s stock worth $2,284,000 after acquiring an additional 617 shares during the period. Values First Advisors Inc. acquired a new position in shares of Wayfair during the fourth quarter worth about $552,000. Wishbone Management LP increased its stake in shares of Wayfair by 214.7% during the fourth quarter. Wishbone Management LP now owns 535,000 shares of the company’s stock worth $101,634,000 after acquiring an additional 365,000 shares during the period. Delta Asset Management LLC TN acquired a new position in shares of Wayfair during the fourth quarter worth about $159,000. Finally, Howland Capital Management LLC increased its stake in shares of Wayfair by 6.2% during the first quarter. Howland Capital Management LLC now owns 58,023 shares of the company’s stock worth $6,427,000 after acquiring an additional 3,408 shares during the period. 85.89% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair

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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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