Shares of Wayfair Inc. (NYSE:W) dropped 2.8% during trading on Monday . The stock traded as low as $37.59 and last traded at $37.90, with a volume of 565,112 shares trading hands. The stock had previously closed at $38.99.

W has been the subject of several recent analyst reports. Zacks Investment Research raised Wayfair from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, August 11th. Veritas Investment Research reaffirmed a “hold” rating on shares of Wayfair in a research note on Friday, August 5th. Cowen and Company reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Wayfair in a research note on Tuesday, June 21st. Vetr downgraded Wayfair from a “strong-buy” rating to a “buy” rating and set a $46.67 price objective for the company. in a research note on Wednesday, June 22nd. Finally, Bank of America Corp. downgraded Wayfair from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $54.00 to $45.00 in a research note on Wednesday, August 10th. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Wayfair presently has an average rating of “Hold” and a consensus target price of $51.49.

The company’s 50 day moving average price is $40.67 and its 200 day moving average price is $40.35. The firm’s market capitalization is $3.26 billion.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.02. The business had revenue of $755.70 million for the quarter, compared to the consensus estimate of $782.43 million. Wayfair’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. On average, analysts expect that Wayfair Inc. will post ($1.67) EPS for the current year.

In related news, major shareholder Steven Conine sold 12,000 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $40.30, for a total value of $483,600.00. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at $483,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael D. Fleisher sold 4,635 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $38.26, for a total transaction of $177,335.10. Following the completion of the sale, the chief financial officer now owns 31,660 shares of the company’s stock, valued at approximately $1,211,311.60. The disclosure for this sale can be found here.

Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.