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

Wayfair Inc. (NYSE:W) has received an average rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $60.24.

W has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. BMO Capital Markets lowered their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Wedbush downgraded Wayfair from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $44.00 in a research note on Monday, January 6th. Loop Capital increased their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Piper Sandler reduced their target price on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th.

Wayfair Stock Performance

Wayfair stock opened at $47.36 on Friday. The stock has a 50-day simple moving average of $47.33 and a 200 day simple moving average of $46.84. The stock has a market capitalization of $5.93 billion, a P/E ratio of -10.55 and a beta of 3.43. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18.

Insider Buying and Selling at Wayfair

In related news, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. The trade was a 7.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the sale, the insider now directly owns 632,573 shares in the company, valued at $33,614,929.22. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,228 shares of company stock valued at $7,709,418. Corporate insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in Wayfair by 2.4% in the fourth quarter. Arizona State Retirement System now owns 26,951 shares of the company’s stock worth $1,194,000 after acquiring an additional 624 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock valued at $44,733,000 after purchasing an additional 35,057 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Wayfair during the 4th quarter valued at about $204,000. 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.