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

Shares of Wayfair Inc. (NYSE:W) have earned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $56.81.

A number of equities research analysts have recently commented on W shares. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $47.00 in a research note on Friday, March 7th. Stifel Nicolaus lowered their price objective on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. BMO Capital Markets increased their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, February 21st. Truist Financial lowered their price target on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Piper Sandler set a $58.00 price objective on Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 19,257 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now owns 78,308 shares of the company’s stock, valued at $2,480,797.44. The trade was a 19.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,577 shares of company stock valued at $6,792,672 in the last quarter. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. Charles Schwab Investment Management Inc. lifted its position in Wayfair by 35.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock valued at $54,734,000 after purchasing an additional 253,681 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Wayfair in the third quarter worth $1,070,000. Brooklyn Investment Group bought a new stake in Wayfair during the 3rd quarter valued at $50,000. Bridgewater Associates LP purchased a new stake in Wayfair during the 3rd quarter valued at $7,203,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair in the 3rd quarter worth $67,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

Wayfair stock opened at $33.70 on Friday. Wayfair has a fifty-two week low of $29.68 and a fifty-two week high of $76.18. The firm’s 50-day simple moving average is $40.41 and its 200 day simple moving average is $45.01. The stock has a market cap of $4.28 billion, a PE ratio of -8.38 and a beta of 3.44.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, analysts predict that Wayfair will post -2.54 EPS 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.