Wayfair Inc. (NYSE:W) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Wayfair Inc. (NYSE:W) have earned an average recommendation of “Moderate Buy” from the twenty-five research firms that are currently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $65.63.

W has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Loop Capital cut their target price on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, June 21st.

Wayfair Stock Performance

Wayfair stock opened at $47.35 on Tuesday. The company has a 50 day moving average price of $46.78 and a 200 day moving average price of $55.13. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -8.83 and a beta of 3.40.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.27) earnings per share. Equities analysts forecast that Wayfair will post -2.66 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the sale, the chief operating officer now directly owns 157,239 shares in the company, valued at $7,978,306.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,102 shares of company stock valued at $2,076,659. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Truist Financial Corp acquired a new position in shares of Wayfair during the fourth quarter worth $504,000. Victory Capital Management Inc. increased its holdings in shares of Wayfair by 1,323.1% during the fourth quarter. Victory Capital Management Inc. now owns 127,044 shares of the company’s stock worth $7,839,000 after buying an additional 118,117 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Wayfair by 2.8% during the fourth quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after buying an additional 397 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Wayfair by 9.7% during the fourth quarter. National Bank of Canada FI now owns 44,926 shares of the company’s stock worth $2,641,000 after buying an additional 3,973 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Wayfair by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock worth $41,595,000 after buying an additional 39,545 shares in the last quarter. 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.