Wayfair (NYSE:W) Trading Up 3.2% – What’s Next?

Wayfair Inc. (NYSE:W)’s stock price was up 3.2% during mid-day trading on Friday . The stock traded as high as $45.36 and last traded at $45.13. Approximately 182,965 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 4,398,500 shares. The stock had previously closed at $43.75.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup decreased their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets lowered their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. UBS Group reduced their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler reduced their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Thirteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Up 4.5 %

The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -10.18 and a beta of 3.44. The firm has a 50-day moving average of $46.12 and a 200 day moving average of $48.60.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the company posted ($1.38) earnings per share. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -2.91 EPS for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,896 shares of company stock worth $4,869,409. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair in the 3rd quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair in the third quarter valued at approximately $44,000. Brooklyn Investment Group bought a new stake in shares of Wayfair during the third quarter valued at approximately $50,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair during the second quarter worth approximately $58,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Wayfair in the 3rd quarter worth approximately $67,000. 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.