Wayfair (NYSE:W) Cut to "Hold" at Zacks Research

Key Points

• Wayfair has been downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research, indicating a shift in analysts' confidence.
• Wayfair's recent earnings report exceeded expectations, posting $0.87 earnings per share and $3.27 billion in revenue for the quarter, compared to the estimated $0.33 and $3.11 billion.
• Institutional investors own a significant 89.67% of Wayfair's stock, indicating strong interest from larger market players.

Wayfair (NYSE:W - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. Wedbush restated a "neutral" rating on shares of Wayfair in a report on Tuesday, August 5th. Piper Sandler restated an "overweight" rating and set a $95.00 price objective on shares of Wayfair in a report on Monday, August 4th. Sanford C. Bernstein restated a "market perform" rating and set a $70.00 price objective (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. BMO Capital Markets restated a "market perform" rating and set a $68.00 price objective (up from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Wayfair presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.27.

Wayfair Stock Performance

Shares of NYSE W opened at $89.36 on Monday. The business's 50 day moving average price is $78.42 and its 200-day moving average price is $53.29. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $91.77. The company has a market cap of $11.59 billion, a price-to-earnings ratio of -37.23 and a beta of 2.95.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the chief executive officer owned 374,137 shares of the company's stock, valued at approximately $32,471,350.23. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total value of $7,377,150.00. Following the sale, the insider directly owned 374,073 shares in the company, valued at $32,465,795.67. This trade represents a 18.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 923,857 shares of company stock worth $71,090,564 in the last ninety days. Insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after purchasing an additional 653 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after purchasing an additional 1,097 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Wayfair by 49.3% in the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock worth $96,000 after purchasing an additional 617 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Wayfair in the 2nd quarter worth $102,000. 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.

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