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

Wayfair Inc. (NYSE:W) has been assigned an average rating of “Moderate Buy” from the twenty-six research firms that are currently covering the firm, MarketBeat reports. Twelve 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. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $60.28.

A number of research firms have recently commented on W. Piper Sandler cut their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Citigroup cut their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays decreased their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wedbush decreased their price target on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th.

Insider Buying and Selling

In other news, insider Jon Blotner sold 4,600 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,868 shares of company stock valued at $3,272,548 over the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Wayfair during the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Wayfair in the third quarter valued at approximately $44,000. Brooklyn Investment Group bought a new stake in Wayfair in the third quarter valued at about $50,000. International Assets Investment Management LLC acquired a new position in Wayfair in the second quarter valued at about $58,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair in the third quarter valued at approximately $67,000. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Performance

Shares of W opened at $44.03 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -9.81 and a beta of 3.46. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The company’s 50 day simple moving average is $47.86 and its 200 day simple moving average is $50.85.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.38) earnings per share. Equities analysts expect that Wayfair will post -2.92 EPS for the current fiscal year.

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.