Wayfair (NYSE:W) Cut to “Neutral” at BNP Paribas

BNP Paribas cut shares of Wayfair (NYSE:W – Get Rating) from an outperform rating to a neutral rating in a report released on Tuesday, Marketbeat.com reports. BNP Paribas currently has $52.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their target price on shares of Wayfair from $150.00 to $135.00 and set a neutral rating for the company in a report on Friday, February 25th. Sanford C. Bernstein began coverage on shares of Wayfair in a report on Monday, May 23rd. They issued an underperform rating and a $45.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $108.00 to $70.00 and set an underweight rating for the company in a report on Tuesday, April 26th. Credit Suisse Group decreased their target price on shares of Wayfair from $256.00 to $195.00 in a report on Friday, May 6th. Finally, Loop Capital decreased their target price on shares of Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $127.88.

Wayfair stock opened at $54.16 on Tuesday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -11.85 and a beta of 2.90. The company’s 50-day moving average price is $64.96 and its two-hundred day moving average price is $121.61. Wayfair has a 52 week low of $43.72 and a 52 week high of $328.21.

Wayfair (NYSE:W – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($2.59) by ($0.44). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.99 billion. Wayfair had a negative net margin of 3.54% and a negative return on equity of 10.52%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. On average, equities research analysts anticipate that Wayfair will post -11.47 earnings per share for the current year.

In other Wayfair news, insider Steve Oblak sold 1,252 shares of the business’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $101.94, for a total value of $127,628.88. Following the sale, the insider now owns 152,702 shares of the company’s stock, valued at approximately $15,566,441.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Fiona Tan sold 2,618 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $115.78, for a total transaction of $303,112.04. Following the completion of the sale, the chief technology officer now owns 18,797 shares in the company, valued at approximately $2,176,316.66. The disclosure for this sale can be found here. Insiders sold a total of 12,268 shares of company stock worth $1,169,897 in the last three months. Insiders own 27.04% of the company’s stock.

Several large investors have recently modified their holdings of the company. Confluence Wealth Services Inc. acquired a new position in Wayfair during the 4th quarter worth about $27,000. Steward Partners Investment Advisory LLC lifted its position in Wayfair by 227.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 252 shares of the company’s stock worth $48,000 after buying an additional 175 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in Wayfair during the 4th quarter worth about $51,000. CWM LLC acquired a new position in Wayfair during the 4th quarter worth about $55,000. Finally, Elequin Capital LP bought a new stake in Wayfair during the 1st quarter worth about $45,000. Institutional investors own 85.89% of the company’s stock.

Wayfair Company Profile (Get Rating)

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

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