Wayfair Inc. (NYSE:W) Receives $67.00 Average Price Target from Brokerages

Wayfair Inc. (NYSE:W) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $65.63.

A number of equities analysts recently commented on W shares. TD Cowen lifted their price objective on Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Barclays cut their price objective on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group dropped their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Wayfair in a research note on Thursday, May 16th. Finally, Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Thursday, May 16th.

Insider Buying and Selling

In other news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the transaction, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wayfair news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the sale, the insider now directly owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,102 shares of company stock worth $2,644,559. 26.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of Wayfair by 0.9% in the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after buying an additional 103,369 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in shares of Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Wayfair in the fourth quarter worth about $47,374,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Price Performance

Wayfair stock opened at $42.26 on Friday. The stock’s 50 day moving average is $50.00 and its 200 day moving average is $56.24. The firm has a market cap of $5.22 billion, a P/E ratio of -7.88 and a beta of 3.43. Wayfair has a one year low of $38.02 and a one year high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.27) earnings per share. Equities analysts anticipate that Wayfair will post -2.8 earnings per share 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.