The Goldman Sachs Group Issues Pessimistic Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W - Get Free Report) had its price objective decreased by research analysts at The Goldman Sachs Group from $50.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 5.84% from the stock's previous close.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group cut their target price on shares of Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. UBS Group reduced their target price on Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup downgraded Wayfair from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $58.00 to $28.00 in a research note on Friday, April 4th. Guggenheim reissued a "buy" rating and issued a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. Finally, BMO Capital Markets upped their target price on Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, February 21st. Sixteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.68.

Wayfair Stock Down 0.4 %

Wayfair stock traded down $0.12 during mid-day trading on Tuesday, hitting $29.29. 3,868,767 shares of the stock were exchanged, compared to its average volume of 4,634,098. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -7.29 and a beta of 3.72. Wayfair has a 12 month low of $20.41 and a 12 month high of $76.18. The firm's fifty day simple moving average is $32.54 and its two-hundred day simple moving average is $41.54.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.07 billion. As a group, analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kate Gulliver sold 19,296 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the sale, the chief financial officer now owns 144,474 shares of the company's stock, valued at $4,575,491.58. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares of the company's stock, valued at $2,480,797.44. This represents a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,863 shares of company stock valued at $3,393,929. Company insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in W. Capital World Investors increased its holdings in shares of Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after purchasing an additional 782,757 shares during the period. Vanguard Group Inc. boosted its position in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after acquiring an additional 327,603 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock worth $273,887,000 after purchasing an additional 740,641 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock worth $169,952,000 after purchasing an additional 581,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.