Wayfair Inc. (NYSE:W) Receives Consensus Rating of “Moderate Buy” from Analysts

Wayfair Inc. (NYSE:W) has earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $78.50.

A number of brokerages have issued reports on W. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Wayfair in a report on Thursday, May 16th. TD Cowen lifted their price target on Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. BMO Capital Markets boosted their price objective on Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Wayfair in a research report on Friday, May 3rd.

Wayfair Stock Up 0.9 %

Wayfair stock opened at $50.23 on Thursday. The company has a market capitalization of $6.05 billion, a PE ratio of -9.37 and a beta of 3.39. The firm’s fifty day moving average is $58.96 and its 200 day moving average is $58.56. Wayfair has a 12-month low of $38.37 and a 12-month high of $90.71.

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 business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. Sell-side analysts expect that Wayfair will post -2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 3,339 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.03, for a total transaction of $210,457.17. Following the completion of the sale, the chief operating officer now owns 143,097 shares of the company’s stock, valued at $9,019,403.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the completion of the sale, the chief executive officer now directly owns 239,137 shares in the company, valued at $15,443,467.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 3,339 shares of Wayfair stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.03, for a total value of $210,457.17. Following the sale, the chief operating officer now owns 143,097 shares in the company, valued at $9,019,403.91. The disclosure for this sale can be found here. Insiders sold 65,680 shares of company stock valued at $4,164,783 over the last three months. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. Capital World Investors raised its stake in shares of Wayfair by 0.9% in the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the last quarter. Vanguard Group Inc. increased its holdings in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares in the last quarter. Atreides Management LP raised its position in Wayfair by 1.8% in the 3rd quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after buying an additional 16,932 shares during the last quarter. Norges Bank bought a new position in Wayfair during the 4th quarter valued at about $47,374,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Wayfair by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after acquiring an additional 119,873 shares during the last quarter. Hedge funds and other institutional investors 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.