Wayfair (NYSE:W) Stock Rating Upgraded by Jefferies Financial Group

Wayfair (NYSE:W) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $47.00 price target on the stock, up from their prior price target of $45.00. Jefferies Financial Group’s target price would suggest a potential upside of 34.10% from the stock’s previous close.

Other analysts have also issued reports about the company. Piper Sandler set a $58.00 target price on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus decreased their price objective on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.69.

Wayfair Trading Up 5.9 %

W stock opened at $35.05 on Friday. The stock’s fifty day simple moving average is $44.61 and its two-hundred day simple moving average is $46.25. Wayfair has a 1-year low of $32.50 and a 1-year high of $76.18. The stock has a market cap of $4.45 billion, a P/E ratio of -8.72 and a beta of 3.44.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the completion of the transaction, the chief financial officer now owns 129,964 shares of the company’s stock, valued at $5,841,881.80. This represents a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,235,818 in the last ninety days. 23.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Employees Retirement System of Texas raised its position in shares of Wayfair by 28.5% in the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $1,563,000 after acquiring an additional 7,813 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in shares of Wayfair by 142.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock worth $6,721,000 after acquiring an additional 89,053 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Wayfair in the 4th quarter worth approximately $1,536,000. Neo Ivy Capital Management bought a new position in shares of Wayfair in the 4th quarter worth approximately $3,560,000. Finally, Southpoint Capital Advisors LP raised its position in shares of Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after acquiring an additional 1,400,000 shares in the last quarter. 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.