Truist Financial Raises Wayfair (NYSE:W) Price Target to $53.00

Wayfair (NYSE:W – Get Rating) had its price target raised by Truist Financial from $52.00 to $53.00 in a research report report published on Thursday, The Fly reports.

Several other brokerages also recently commented on W. Stephens lowered their target price on shares of Wayfair from $40.00 to $34.00 in a report on Thursday, May 4th. Wedbush reduced their price target on shares of Wayfair from $60.00 to $50.00 and set an outperform rating for the company in a research report on Friday, February 24th. Robert W. Baird reduced their price target on shares of Wayfair from $52.00 to $40.00 and set a neutral rating for the company in a research report on Friday, February 24th. StockNews.com initiated coverage on shares of Wayfair in a research report on Thursday, May 18th. They set a sell rating for the company. Finally, Barclays reduced their price target on shares of Wayfair from $70.00 to $40.00 in a research report on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $48.59.

Wayfair Trading Down 0.5 %

Shares of W stock opened at $34.87 on Thursday. The firm has a 50-day moving average of $34.99 and a 200-day moving average of $39.50. Wayfair has a one year low of $28.11 and a one year high of $76.35.

Wayfair (NYSE:W – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported ($2.50) EPS for the quarter, beating the consensus estimate of ($3.14) by $0.64. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.74 billion. On average, sell-side analysts forecast that Wayfair will post -9.18 EPS for the current year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 3,221 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.62, for a total value of $124,395.02. Following the sale, the chief technology officer now directly owns 48,418 shares of the company’s stock, valued at $1,869,903.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Fiona Tan sold 3,221 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.62, for a total value of $124,395.02. Following the sale, the chief technology officer now directly owns 48,418 shares of the company’s stock, valued at $1,869,903.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Netzer sold 2,757 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.59, for a total transaction of $106,392.63. Following the completion of the sale, the chief operating officer now directly owns 87,087 shares in the company, valued at $3,360,687.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,677 shares of company stock valued at $1,385,880. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of Wayfair by 24.1% during the second quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock worth $42,000 after acquiring an additional 188 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Wayfair by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,013 shares of the company’s stock worth $296,000 after purchasing an additional 252 shares during the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of Wayfair by 5.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company’s stock worth $648,000 after purchasing an additional 281 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Wayfair by 16.9% in the first quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after purchasing an additional 342 shares during the last quarter. Finally, Ingalls & Snyder LLC grew its holdings in shares of Wayfair by 0.4% in the fourth quarter. Ingalls & Snyder LLC now owns 81,532 shares of the company’s stock worth $2,682,000 after purchasing an additional 344 shares during the last quarter. 90.61% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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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.