Wayfair (NYSE:W) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Wayfair (NYSE:W) in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $60.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Wedbush lowered their price target on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Raymond James lowered their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

Wayfair Stock Performance

Shares of W opened at $44.41 on Wednesday. The stock has a market capitalization of $5.35 billion, a P/E ratio of -8.29 and a beta of 3.42. The company’s fifty day moving average is $48.77 and its two-hundred day moving average is $53.05. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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. During the same quarter in the prior year, the company earned ($1.27) earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that Wayfair will post -2.68 EPS for the current year.

Insider Transactions at Wayfair

In other news, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,891 shares of company stock worth $2,007,213 in the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP grew its position in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Vanguard Group Inc. grew its position in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares in the last quarter. Maverick Capital Ltd. grew its position in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after acquiring an additional 227,908 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in Wayfair in the first quarter valued at approximately $13,690,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.