Wayfair (NYSE:W) Stock Price Up 3.4%

Wayfair Inc. (NYSE:W)’s share price rose 3.4% during trading on Monday . The stock traded as high as $54.75 and last traded at $54.42. Approximately 365,098 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,334,107 shares. The stock had previously closed at $52.62.

Wall Street Analysts Forecast Growth

W has been the subject of several research analyst reports. Sanford C. Bernstein upped their price target on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft increased their target price on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of Wayfair in a research note on Friday, February 23rd. Finally, TD Cowen increased their price target on Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.83.

Wayfair Stock Performance

The firm has a 50 day moving average price of $59.83 and a two-hundred day moving average price of $58.74.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. On average, research analysts anticipate that Wayfair Inc. will post -2.94 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares of the company’s stock, valued at $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares of the company’s stock, valued at $3,222,050.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 3,282 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.10, for a total value of $207,094.20. Following the sale, the insider now directly owns 48,322 shares of the company’s stock, valued at approximately $3,049,118.20. The disclosure for this sale can be found here. Insiders sold a total of 65,680 shares of company stock valued at $4,164,783 over the last quarter. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Wayfair in the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale acquired a new stake in Wayfair during the third quarter valued at approximately $34,000. Finally, ORG Partners LLC acquired a new stake in Wayfair during the first quarter valued at approximately $37,000. 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.