Wayfair (NYSE:W) Shares Gap Down to $112.06

Wayfair Inc (NYSE:W) shares gapped down before the market opened on Thursday . The stock had previously closed at $102.77, but opened at $112.06. Wayfair shares last traded at $106.61, with a volume of 3,181,271 shares changing hands.

A number of brokerages recently weighed in on W. Credit Suisse Group decreased their price objective on shares of Wayfair from $195.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Wedbush reduced their price target on shares of Wayfair from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Needham & Company LLC began coverage on shares of Wayfair in a report on Monday, July 1st. They issued a “buy” rating and a $175.00 price target for the company. Berenberg Bank began coverage on shares of Wayfair in a report on Thursday, May 9th. They issued a “sell” rating and a $121.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on shares of Wayfair from $132.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $154.49.

The business’s 50-day moving average price is $137.85 and its 200-day moving average price is $145.67. The stock has a market cap of $9.99 billion, a PE ratio of -19.13 and a beta of 1.88.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($1.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.62. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned ($0.77) EPS. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. As a group, sell-side analysts predict that Wayfair Inc will post -9.36 EPS for the current year.

In other Wayfair news, CFO Michael D. Fleisher sold 477 shares of the business’s stock in a transaction that occurred on Saturday, June 15th. The shares were sold at an average price of $156.06, for a total transaction of $74,440.62. Following the sale, the chief financial officer now owns 128,675 shares of the company’s stock, valued at approximately $20,081,020.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 2,946 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $126.96, for a total transaction of $374,024.16. Following the sale, the chief operating officer now directly owns 18,255 shares in the company, valued at approximately $2,317,654.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,944 shares of company stock worth $5,379,784. Insiders own 33.86% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. purchased a new stake in shares of Wayfair in the 2nd quarter valued at $25,000. PNC Financial Services Group Inc. boosted its holdings in shares of Wayfair by 40.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock valued at $45,000 after acquiring an additional 84 shares during the last quarter. Investors Research Corp purchased a new stake in shares of Wayfair in the 1st quarter valued at $52,000. Catamount Wealth Management purchased a new stake in shares of Wayfair in the 1st quarter valued at $74,000. Finally, Strs Ohio purchased a new stake in shares of Wayfair in the 1st quarter valued at $102,000. 80.30% of the stock is currently owned by institutional investors.

Wayfair Company Profile (NYSE:W)

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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