Robert W. Baird Boosts Wayfair Inc. (W) Price Target to $73.00
Wayfair Inc. (NYSE:W) had its price target hoisted by stock analysts at Robert W. Baird to $73.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 3.34% from the company’s current price.
Several other equities analysts have also issued reports on W. Gordon Haskett lowered Wayfair from a “buy” rating to an “accumulate” rating and boosted their price target for the company from $70.00 to $85.00 in a research note on Tuesday, June 27th. Canaccord Genuity boosted their price target on Wayfair from $45.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Maxim Group reaffirmed a “buy” rating and set a $53.00 target price (up from $45.00) on shares of Wayfair in a research report on Tuesday, May 2nd. Zacks Investment Research raised Wayfair from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, April 27th. Finally, Buckingham Research upped their target price on Wayfair from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Wayfair has an average rating of “Buy” and a consensus price target of $66.78.
Shares of Wayfair (NYSE W) traded down 6.27% on Tuesday, reaching $75.52. 4,644,859 shares of the company’s stock traded hands. The company’s 50-day moving average is $75.55 and its 200-day moving average is $54.28. The firm’s market capitalization is $6.54 billion. Wayfair has a 52 week low of $27.60 and a 52 week high of $80.50.
Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Wayfair had a negative return on equity of 215.36% and a negative net margin of 5.84%. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) earnings per share. Equities research analysts anticipate that Wayfair will post ($1.55) earnings per share for the current fiscal year.
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In related news, insider John Champlin Mulliken sold 3,700 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $78.95, for a total transaction of $292,115.00. Following the sale, the insider now owns 190,015 shares of the company’s stock, valued at approximately $15,001,684.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Niraj Shah sold 40,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $63.97, for a total value of $2,558,800.00. Following the sale, the chief executive officer now directly owns 209,319 shares in the company, valued at approximately $13,390,136.43. The disclosure for this sale can be found here. Insiders sold a total of 722,808 shares of company stock valued at $52,990,225 in the last 90 days. Corporate insiders own 63.94% of the company’s stock.
A number of hedge funds have recently modified their holdings of W. BNP Paribas Arbitrage SA boosted its stake in Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after buying an additional 667 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in Wayfair during the second quarter valued at $138,000. First Personal Financial Services boosted its stake in Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock valued at $100,000 after buying an additional 325 shares during the last quarter. UBS Group AG boosted its stake in Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after buying an additional 960 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Wayfair during the second quarter valued at $208,000.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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