Wayfair (NYSE:W) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Wayfair (NYSE:W) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $50.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Mizuho reduced their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Canaccord Genuity Group decreased their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Citigroup dropped their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

Wayfair Trading Down 9.0 %

Wayfair stock opened at $41.92 on Friday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The firm’s 50-day simple moving average is $46.42 and its 200 day simple moving average is $46.50.

Wayfair (NYSE:W) last issued its quarterly earnings data 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 analyst estimates of $3.07 billion. As a group, sell-side analysts predict that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now directly owns 57,899 shares in the company, valued at approximately $2,479,814.17. The trade was a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,228 shares of company stock worth $7,830,018. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in W. True Wealth Design LLC grew its stake in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Wayfair in the 3rd quarter valued at approximately $29,000. Finally, GAMMA Investing LLC raised its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

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.