Wayfair (NYSE:W) Given New $32.00 Price Target at Citigroup

Wayfair (NYSE:W) had its price target increased by Citigroup from $30.00 to $32.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential downside of 5.21% from the company’s current price.

A number of other equities research analysts have also weighed in on W. Guggenheim reduced their price objective on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday. Raymond James set a $60.00 price target on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Wayfair in a report on Thursday. The Goldman Sachs Group decreased their target price on Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.79.

Wayfair Stock Up 8.1 %

Shares of W opened at $33.76 on Friday. The company has a market cap of $4.28 billion, a P/E ratio of -8.40 and a beta of 3.72. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $76.18. The firm’s 50 day moving average price is $31.32 and its 200 day moving average price is $40.75.

Wayfair (NYSE:W) last released its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. Research analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity

In related news, insider Jon Blotner sold 19,257 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,863 shares of company stock valued at $3,393,929 over the last quarter. Corporate insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC increased its stake in Wayfair by 18.1% in the 3rd quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after purchasing an additional 3,320 shares in the last quarter. GAMMA Investing LLC grew its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Wayfair in the fourth quarter valued at $6,799,000. Ameritas Advisory Services LLC purchased a new position in shares of Wayfair in the fourth quarter valued at $229,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Wayfair by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after buying an additional 2,250 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.