Wayfair (NYSE:W) Receives “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Wayfair (NYSE:W) in a research report released on Thursday, Benzinga reports. They currently have a $70.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Truist Financial cut their price target on shares of Wayfair from $70.00 to $60.00 and set a buy rating on the stock in a report on Friday, August 2nd. Piper Sandler cut their price target on shares of Wayfair from $91.00 to $67.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $87.00 to $70.00 and set a buy rating on the stock in a report on Friday, August 2nd. Gordon Haskett cut shares of Wayfair from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Bank of America cut shares of Wayfair from a buy rating to a neutral rating and dropped their target price for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wayfair currently has an average rating of Moderate Buy and an average price target of $65.83.

Wayfair Stock Up 4.8 %

NYSE W opened at $56.76 on Thursday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -10.59 and a beta of 3.40. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The company has a fifty day moving average of $46.51 and a two-hundred day moving average of $54.66.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.27) EPS. Equities research analysts anticipate that Wayfair will post -2.66 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the completion of the transaction, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at approximately $7,978,306.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jon Blotner sold 4,801 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the transaction, the insider now directly owns 53,152 shares of the company’s stock, valued at approximately $2,708,094.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the transaction, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,113 shares of company stock valued at $2,126,623. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently modified their holdings of W. Vanguard Group Inc. raised its position in Wayfair by 4.5% during the 1st 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 during the last quarter. SageView Advisory Group LLC purchased a new position in Wayfair during the 1st quarter worth approximately $937,000. Mirae Asset Global Investments Co. Ltd. raised its position in Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares during the last quarter. Sei Investments Co. raised its position in Wayfair by 14.6% during the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after buying an additional 12,809 shares during the last quarter. Finally, Highland Peak Capital LLC purchased a new position in Wayfair during the 2nd quarter worth approximately $5,165,000. 89.67% of the stock is owned by hedge funds and other 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.