Wayfair’s (W) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Wayfair (NYSE:W) in a report published on Friday, MarketBeat Ratings reports. The firm currently has a $60.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group cut their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup lowered their target price on Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Raymond James reduced their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Performance

Shares of NYSE:W opened at $41.93 on Friday. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The firm has a market cap of $5.18 billion, a PE ratio of -7.93 and a beta of 3.46. The firm’s fifty day moving average is $48.64 and its 200-day moving average is $52.26.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,471 shares of company stock valued at $1,987,002. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of the business. WealthPlan Investment Management LLC raised its stake in Wayfair by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after acquiring an additional 271 shares during the period. Creative Planning lifted its stake in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after buying an additional 272 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Wayfair by 12.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Wayfair during the third quarter valued at about $29,000. 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.