Wayfair (NYSE:W) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Wayfair (NYSE:W) from a hold rating to a sell rating in a report published on Wednesday.

Several other equities analysts have also recently commented on the stock. Piper Sandler raised shares of Wayfair from a neutral rating to an overweight rating and boosted their price objective for the company from $35.00 to $97.00 in a research note on Monday, July 31st. Stephens raised shares of Wayfair from an equal weight rating to an overweight rating and boosted their price objective for the company from $34.00 to $105.00 in a research note on Thursday, August 3rd. Wedbush reaffirmed an outperform rating and set a $100.00 price objective on shares of Wayfair in a research note on Friday, August 11th. Guggenheim reaffirmed a buy rating and set a $100.00 price objective on shares of Wayfair in a research note on Monday, August 14th. Finally, Moffett Nathanson raised shares of Wayfair from an underperform rating to a market perform rating and set a $44.00 price target for the company in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $82.29.

Wayfair Stock Performance

Shares of W stock opened at $71.00 on Wednesday. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of -7.43 and a beta of 3.18. Wayfair has a 52 week low of $28.11 and a 52 week high of $90.71. The firm’s 50-day simple moving average is $71.88 and its two-hundred day simple moving average is $52.08.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($1.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.33) by $1.06. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.10 billion. Analysts forecast that Wayfair will post -7.33 earnings per share for the current year.

Insider Activity

In other news, Director Anke Schaferkordt sold 679 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $73.10, for a total transaction of $49,634.90. Following the sale, the director now owns 9,286 shares of the company’s stock, valued at approximately $678,806.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Thomas Netzer sold 21,241 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $64.11, for a total value of $1,361,760.51. Following the transaction, the chief operating officer now owns 109,379 shares in the company, valued at approximately $7,012,287.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anke Schaferkordt sold 679 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $73.10, for a total transaction of $49,634.90. Following the completion of the transaction, the director now owns 9,286 shares in the company, valued at approximately $678,806.60. The disclosure for this sale can be found here. Insiders have sold a total of 100,913 shares of company stock valued at $6,643,655 in the last 90 days. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. BloombergSen Inc. raised its position in shares of Wayfair by 43.5% during the first quarter. BloombergSen Inc. now owns 6,127 shares of the company’s stock valued at $210,000 after buying an additional 1,856 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $405,000. PDT Partners LLC raised its position in shares of Wayfair by 84.7% during the fourth quarter. PDT Partners LLC now owns 84,727 shares of the company’s stock valued at $2,787,000 after buying an additional 38,851 shares during the last quarter. Nishkama Capital LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $755,000. Finally, Baystate Wealth Management LLC raised its position in shares of Wayfair by 628.7% during the first quarter. Baystate Wealth Management LLC now owns 2,645 shares of the company’s stock valued at $91,000 after buying an additional 2,282 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty 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, Perigold, and Wayfair Professional.