Wayfair (NYSE:W) Shares Gap Down on Analyst Downgrade

Shares of Wayfair Inc. (NYSE:W - Get Free Report) gapped down prior to trading on Monday after Mizuho lowered their price target on the stock from $60.00 to $50.00. The stock had previously closed at $33.66, but opened at $32.35. Mizuho currently has an outperform rating on the stock. Wayfair shares last traded at $31.27, with a volume of 812,967 shares.

Several other research analysts also recently weighed in on W. Evercore ISI increased their price target on shares of Wayfair from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Piper Sandler set a $58.00 price target on Wayfair and gave the stock an "overweight" rating in a research report on Friday, February 21st. Wedbush reaffirmed a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Loop Capital decreased their target price on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a research report on Thursday, May 1st. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.25.

Insider Buying and Selling

In related news, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction dated 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 sale, the insider now owns 78,308 shares in the company, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the transaction, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,915 shares of company stock worth $3,389,028 over the last three months. 21.91% of the stock is owned by insiders.

Institutional Trading of Wayfair

A number of large investors have recently modified their holdings of W. J.Safra Asset Management Corp raised its holdings in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. GAMMA Investing LLC boosted its position in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after acquiring an additional 381 shares during the period. California State Teachers Retirement System raised its position in shares of Wayfair by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock worth $3,860,000 after acquiring an additional 383 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Price Performance

The company has a market cap of $3.86 billion, a P/E ratio of -7.56 and a beta of 2.93. The business has a 50-day moving average of $30.71 and a two-hundred day moving average of $40.38.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. The company's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) EPS. Equities analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

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.