Wayfair Inc. [W] stock Downgrade by Cowen analyst, price target now $38

Wayfair Inc. [NYSE: W] traded at a low on 11/29/22, posting a -1.86 loss after which it closed the day’ session at $31.67. The company report on November 29, 2022 that Wayfair Announces Strong Five-Day Peak Holiday Shopping Period.

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Customers Came to Wayfair to Save on Vast Selection of Items for the Home.

Wayfair Inc. (NYSE:W), one of the world’s largest destinations for the home, today announced strong results for the five-day peak holiday shopping period between Thanksgiving and Cyber Monday, including a low single digit sales increase in the U.S. compared to the same time period in 2021. Customers turned to Wayfair throughout November for their home needs in response to a robust offering, including in-stock availability, speed of delivery, and price value. Wayfair has ongoing, exciting seasonal savings through the end of the year, including 12 Days of Markdowns and its End of Year Clearance, as well as Flash Deal Friday events throughout December.

The results of the trading session contributed to over 3541296 shares changing hands. Over the past one week, the price volatility of Wayfair Inc. stands at 5.32% while the volatility over the past one month is 10.13%.

The market cap for W stock reached $3.41 billion, with 106.00 million shares outstanding and 72.78 million shares in the current float. Compared to the average trading volume of 4.34M shares, W reached a trading volume of 3541296 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Wayfair Inc. [W]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for W shares is $49.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on W stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Wayfair Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 22, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Underperform. The new note on the price target was released on November 15, 2022, representing the official price target for Wayfair Inc. stock. Previously, the target price had yet another raise to $36, while Goldman analysts kept a Neutral rating on W stock. On September 23, 2022, analysts decreased their price target for W shares from 65 to 45.

The Average True Range (ATR) for Wayfair Inc. is set at 3.22, with the Price to Sales ratio for W stock in the period of the last 12 months amounting to 0.28.

How has W stock performed recently?

Wayfair Inc. [W] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.03. With this latest performance, W shares dropped by -12.54% in over the last four-week period, additionally sinking by -46.67% over the last 6 months – not to mention a drop of -88.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for W stock in for the last two-week period is set at 42.75, with the RSI for the last a single of trading hit 39.40, and the three-weeks RSI is set at 43.73 for Wayfair Inc. [W]. The present Moving Average for the last 50 days of trading for this stock 34.70, while it was recorded at 32.38 for the last single week of trading, and 66.31 for the last 200 days.

Wayfair Inc. [W]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Wayfair Inc. [W] shares currently have an operating margin of -0.60 and a Gross Margin at +28.41. Wayfair Inc.’s Net Margin is presently recorded at -0.96.

Wayfair Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Insider trade positions for Wayfair Inc. [W]

There are presently around $2,987 million, in the hands of institutional investors. The top three institutional holders of W stocks are: FMR LLC with ownership of 12,065,511, which is approximately 1.378% of the company’s market cap and around 0.70% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 8,882,616 shares of the stock with an approximate value of $281.31 million in W stocks shares; and VANGUARD GROUP INC, currently with $211.44 million in W stock with ownership of nearly -0.064% of the company’s market capitalization.

Positions in Wayfair Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 161 institutional holders increased their position in Wayfair Inc. [NYSE:W] by around 8,002,879 shares. Additionally, 160 investors decreased positions by around 10,144,195 shares, while 61 investors held positions by with 76,163,524 shares. The mentioned changes placed institutional holdings at 94,310,598 shares, according to the latest SEC report filing. W stock had 58 new institutional investments in for a total of 1,463,910 shares, while 63 institutional investors sold positions of 963,910 shares during the same period.


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