Wayfair (NYSE:W) Price Target Lowered to $70.00 at Oppenheimer

Wayfair (NYSE:W – Get Rating) had its price target decreased by Oppenheimer from $110.00 to $70.00 in a report released on Monday, The Fly reports. Oppenheimer currently has an outperform rating on the stock.

W has been the topic of several other research reports. Wolfe Research initiated coverage on Wayfair in a research report on Thursday, December 15th. They issued a peer perform rating on the stock. Royal Bank of Canada decreased their target price on Wayfair from $62.00 to $35.00 and set a sector perform rating on the stock in a research report on Monday, November 7th. Credit Suisse Group reduced their price objective on Wayfair from $150.00 to $122.00 and set an outperform rating on the stock in a research report on Monday, October 31st. KeyCorp assumed coverage on Wayfair in a research report on Friday. They set a sector weight rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on Wayfair from $36.00 to $40.00 and gave the stock a neutral rating in a research report on Friday, November 4th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $63.77.

Wayfair Trading Up 26.8 %

Shares of W opened at $59.33 on Monday. Wayfair has a 12 month low of $28.11 and a 12 month high of $163.99. The stock’s 50 day moving average is $37.27 and its two-hundred day moving average is $43.24. The firm has a market cap of $6.36 billion, a P/E ratio of -5.29 and a beta of 2.85.

Wayfair (NYSE:W – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($3.27) earnings per share for the quarter, beating the consensus estimate of ($3.32) by $0.05. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Equities research analysts forecast that Wayfair will post -12.55 EPS for the current year.

Insider Buying and Selling

In other news, insider Steve Oblak sold 854 shares of the company’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $44.40, for a total transaction of $37,917.60. Following the completion of the transaction, the insider now directly owns 183,941 shares of the company’s stock, valued at approximately $8,166,980.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Steve Oblak sold 854 shares of the company’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $44.40, for a total transaction of $37,917.60. Following the completion of the transaction, the insider now directly owns 183,941 shares of the company’s stock, valued at approximately $8,166,980.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 3,175 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $33.25, for a total value of $105,568.75. Following the transaction, the chief financial officer now directly owns 21,107 shares of the company’s stock, valued at $701,807.75. The disclosure for this sale can be found here. Insiders sold 42,379 shares of company stock valued at $1,540,618 in the last three months. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in W. Captrust Financial Advisors lifted its holdings in shares of Wayfair by 24.1% in the 2nd quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 188 shares during the last quarter. Yarbrough Capital LLC purchased a new stake in shares of Wayfair in the 4th quarter valued at about $43,000. CWM LLC raised its stake in Wayfair by 186.3% during the 2nd quarter. CWM LLC now owns 1,088 shares of the company’s stock valued at $47,000 after acquiring an additional 708 shares during the last quarter. Skylands Capital LLC purchased a new stake in Wayfair during the 3rd quarter valued at approximately $49,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Wayfair during the 3rd quarter valued at approximately $59,000. 90.61% of the stock is owned by institutional investors and hedge funds.

About Wayfair

(Get Rating)

Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.