Credit Suisse Group Cuts Wayfair Inc. (W) Price Target to $69.00
Several other research firms also recently weighed in on W. Wolfe Research reissued an outperform rating on shares of Wayfair in a report on Wednesday, August 9th. KeyCorp reissued a hold rating on shares of Wayfair in a report on Friday, September 29th. BidaskClub downgraded Wayfair from a strong-buy rating to a buy rating in a report on Friday, August 4th. Ifs Securities initiated coverage on Wayfair in a report on Friday, September 1st. They issued an outperform rating and a $85.00 price objective for the company. Finally, Piper Jaffray Companies reissued a buy rating and issued a $89.00 price objective on shares of Wayfair in a report on Friday, September 8th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $76.01.
Wayfair (W) opened at $67.50 on Friday. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17. Wayfair has a fifty-two week low of $27.60 and a fifty-two week high of $84.19.
Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.54) earnings per share. sell-side analysts predict that Wayfair will post -2.27 EPS for the current fiscal year.
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In other Wayfair news, SVP Steve Oblak sold 805 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $70.68, for a total value of $56,897.40. Following the sale, the senior vice president now owns 120,534 shares of the company’s stock, valued at $8,519,343.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 55,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $76.65, for a total value of $4,215,750.00. Following the completion of the sale, the chief executive officer now directly owns 72,630 shares in the company, valued at approximately $5,567,089.50. The disclosure for this sale can be found here. Insiders sold 397,589 shares of company stock valued at $27,928,955 in the last quarter. 56.93% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Wayfair by 2.7% in the second quarter. FMR LLC now owns 7,757,688 shares of the company’s stock valued at $596,411,000 after purchasing an additional 207,443 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wayfair by 16.3% in the second quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock valued at $232,857,000 after purchasing an additional 423,631 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Wayfair by 1.3% in the third quarter. Baillie Gifford & Co. now owns 1,938,701 shares of the company’s stock valued at $130,669,000 after purchasing an additional 24,027 shares during the last quarter. Allen Investment Management LLC grew its holdings in Wayfair by 25.7% in the second quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after purchasing an additional 180,000 shares during the last quarter. Finally, State Street Corp grew its holdings in Wayfair by 1.8% in the first quarter. State Street Corp now owns 695,502 shares of the company’s stock valued at $28,158,000 after purchasing an additional 12,398 shares during the last quarter. 66.32% of the stock is currently owned by institutional investors.
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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