Wayfair (NYSE:W) Earns Buy Rating from Guggenheim

Wayfair (NYSE:W)‘s stock had its “buy” rating reaffirmed by Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $60.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 79.89% from the company’s current price.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Truist Financial cut their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, February 21st. BMO Capital Markets lifted their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, February 21st. Loop Capital cut their price target on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Finally, Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a report on Friday, February 21st. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

Wayfair Price Performance

W stock traded down $1.66 during midday trading on Monday, reaching $33.35. The company had a trading volume of 1,114,640 shares, compared to its average volume of 3,849,080. The firm has a 50-day moving average price of $44.61 and a 200-day moving average price of $46.26. The company has a market capitalization of $4.23 billion, a P/E ratio of -8.30 and a beta of 3.44. Wayfair has a 1 year low of $32.50 and a 1 year high of $76.18.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, equities analysts predict that Wayfair will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the transaction, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock valued at $6,235,818 in the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently made changes to their positions in the stock. Employees Retirement System of Texas grew its holdings in shares of Wayfair by 28.5% in the fourth quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $1,563,000 after acquiring an additional 7,813 shares during the period. Polar Asset Management Partners Inc. grew its stake in shares of Wayfair by 142.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock valued at $6,721,000 after purchasing an additional 89,053 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Wayfair during the 4th quarter valued at about $1,536,000. Neo Ivy Capital Management purchased a new stake in shares of Wayfair during the 4th quarter valued at about $3,560,000. Finally, Southpoint Capital Advisors LP lifted its stake in shares of Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after purchasing an additional 1,400,000 shares during the period. 89.67% of the stock is currently owned by institutional investors.

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.