StockNews.com Downgrades Wayfair (NYSE:W) to Sell

Wayfair (NYSE:W) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein raised their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $91.00 target price (up previously from $88.00) on shares of Wayfair in a research note on Friday. Raymond James upgraded shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Friday, February 16th. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Wayfair in a research note on Friday. Finally, Truist Financial boosted their price objective on shares of Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.45.

Wayfair Trading Up 8.5 %

NYSE W traded up $4.96 during trading on Friday, hitting $63.60. The company had a trading volume of 8,823,444 shares, compared to its average volume of 4,496,439. Wayfair has a one year low of $33.85 and a one year high of $90.71. The company has a market cap of $7.65 billion, a price-to-earnings ratio of -9.75 and a beta of 3.32. The company’s fifty day moving average is $59.92 and its 200-day moving average is $55.16.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities analysts anticipate that Wayfair will post -3.37 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Fiona Tan sold 5,315 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares in the company, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Wayfair news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the transaction, the chief technology officer now directly owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares in the company, valued at $1,616,820.12. The disclosure for this sale can be found here. Insiders sold 90,156 shares of company stock worth $5,465,688 over the last three months. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of Wayfair during the first quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wayfair in the fourth quarter worth $29,000. GAMMA Investing LLC purchased a new stake in shares of Wayfair during the fourth quarter worth $31,000. BluePath Capital Management LLC acquired a new stake in Wayfair during the third quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Wayfair in the third quarter valued at about $34,000. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

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.