Wayfair (W) Price Target Lowered to $110.00 at JPMorgan Chase & Co.

Wayfair (NYSE:W) had its price target cut by JPMorgan Chase & Co. from $115.00 to $110.00 in a report published on Friday. They currently have a neutral rating on the stock.

A number of other research firms also recently commented on W. Loop Capital boosted their price target on shares of Wayfair to $160.00 and gave the stock a buy rating in a research report on Monday, October 8th. Buckingham Research boosted their price target on shares of Wayfair from $137.00 to $140.00 and gave the stock a buy rating in a research report on Friday, August 3rd. Wolfe Research dropped their price target on shares of Wayfair from $143.00 to $135.00 and set an outperform rating on the stock in a research report on Friday. Zacks Investment Research upgraded shares of Wayfair from a sell rating to a hold rating in a report on Saturday, July 7th. Finally, Robert W. Baird dropped their target price on shares of Wayfair from $118.00 to $108.00 and set a neutral rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wayfair has a consensus rating of Hold and an average target price of $126.06.

Shares of W stock traded down $3.20 during midday trading on Friday, reaching $92.96. 4,324,988 shares of the company were exchanged, compared to its average volume of 1,974,809. Wayfair has a 12 month low of $55.33 and a 12 month high of $151.20.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 1st. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business earned ($0.65) EPS. The company’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, research analysts expect that Wayfair will post -5.15 EPS for the current year.

In other news, CEO Niraj Shah sold 9,501 shares of Wayfair stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $106.96, for a total value of $1,016,226.96. Following the transaction, the chief executive officer now directly owns 64,558 shares of the company’s stock, valued at $6,905,123.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 9,424 shares of Wayfair stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $106.93, for a total transaction of $1,007,708.32. Following the completion of the transaction, the insider now directly owns 64,415 shares in the company, valued at $6,887,895.95. The disclosure for this sale can be found here. Insiders sold a total of 458,115 shares of company stock worth $61,161,008 over the last quarter. Insiders own 37.75% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its position in Wayfair by 26.8% during the second quarter. Voya Investment Management LLC now owns 17,638 shares of the company’s stock valued at $2,095,000 after purchasing an additional 3,726 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Wayfair by 6.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 159,649 shares of the company’s stock valued at $18,960,000 after purchasing an additional 9,588 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Wayfair by 43.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,318 shares of the company’s stock valued at $394,000 after purchasing an additional 1,002 shares in the last quarter. Swiss National Bank grew its position in Wayfair by 46.0% during the second quarter. Swiss National Bank now owns 100,600 shares of the company’s stock valued at $11,947,000 after purchasing an additional 31,700 shares in the last quarter. Finally, United Services Automobile Association grew its position in Wayfair by 7.8% during the second quarter. United Services Automobile Association now owns 6,685 shares of the company’s stock valued at $794,000 after purchasing an additional 483 shares in the last quarter. 72.46% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Analyst Recommendations for Wayfair (NYSE:W)

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