Wayfair's (W) Sell Rating Reaffirmed at Loop Capital

Wayfair (NYSE:W - Get Free Report)'s stock had its "sell" rating reaffirmed by research analysts at Loop Capital in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $35.00 price objective on the stock. Loop Capital's target price suggests a potential downside of 11.59% from the stock's previous close.

A number of other research firms have also recently weighed in on W. Evercore ISI upped their price objective on shares of Wayfair from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Guggenheim lowered their target price on Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Truist Financial set a $40.00 target price on Wayfair in a research note on Friday, May 2nd. BMO Capital Markets set a $38.00 price objective on Wayfair in a research note on Friday, May 2nd. Finally, Piper Sandler set a $58.00 price objective on Wayfair and gave the company an "overweight" rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Wayfair Price Performance

NYSE W traded up $0.84 during trading hours on Wednesday, hitting $39.59. The company had a trading volume of 3,709,736 shares, compared to its average volume of 4,728,877. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $68.98. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -9.85 and a beta of 2.93. The firm's 50 day moving average is $31.13 and its 200 day moving average is $39.98.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now owns 559,073 shares of the company's stock, valued at approximately $25,901,852.09. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 9,527 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $40.04, for a total transaction of $381,461.08. Following the completion of the transaction, the chief executive officer now directly owns 549,610 shares of the company's stock, valued at approximately $22,006,384.40. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,330 shares of company stock valued at $4,767,406. Corporate insiders own 21.91% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in W. Fred Alger Management LLC raised its stake in Wayfair by 40.1% during the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company's stock worth $2,827,000 after acquiring an additional 25,260 shares during the period. Scientech Research LLC boosted its stake in Wayfair by 33.1% during the first quarter. Scientech Research LLC now owns 36,187 shares of the company's stock worth $1,159,000 after buying an additional 9,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wayfair by 29.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company's stock worth $2,147,000 after buying an additional 15,084 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Wayfair during the first quarter valued at $452,000. Finally, AQR Capital Management LLC boosted its stake in shares of Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after purchasing an additional 276,471 shares during the period. 89.67% of the stock is currently owned by 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.