Wayfair (NYSE:W) Trading Up 4%

Wayfair Inc. (NYSE:W) traded up 4% on Monday . The stock traded as high as $49.46 and last traded at $49.25. 616,048 shares were traded during mid-day trading, a decline of 85% from the average session volume of 4,247,002 shares. The stock had previously closed at $47.35.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler dropped their price target on Wayfair from $91.00 to $67.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup reduced their target price on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Guggenheim decreased their target price on shares of Wayfair from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $65.63.

Wayfair Stock Up 0.6 %

The business has a 50-day simple moving average of $46.64 and a 200-day simple moving average of $54.97. The company has a market cap of $6.11 billion, a PE ratio of -9.47 and a beta of 3.40.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm posted ($1.27) earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Wayfair Inc. will post -2.66 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the completion of the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Fiona Tan sold 8,036 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 4,801 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares in the company, valued at approximately $2,708,094.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,102 shares of company stock valued at $2,076,659. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently bought and sold shares of W. Riverview Trust Co purchased a new stake in Wayfair during the 1st quarter worth about $27,000. ORG Partners LLC purchased a new stake in Wayfair during the first quarter worth approximately $37,000. International Assets Investment Management LLC acquired a new position in Wayfair in the second quarter valued at approximately $58,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Wayfair in the fourth quarter valued at approximately $74,000. Finally, Comerica Bank raised its holdings in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares in 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.