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

Shares of Wayfair Inc. (NYSE:W) have earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $56.81.

Several brokerages have issued reports on W. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $47.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered their target price on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $46.00 target price (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st.

Wayfair Stock Down 5.0 %

W opened at $33.84 on Friday. Wayfair has a twelve month low of $29.68 and a twelve month high of $76.18. The company has a market cap of $4.29 billion, a PE ratio of -8.42 and a beta of 3.44. The company has a 50-day moving average price of $41.29 and a 200 day moving average price of $45.27.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 5,669 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total value of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,189 shares of company stock valued at $4,810,693 in the last three months. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Several institutional investors have recently modified their holdings of W. California State Teachers Retirement System raised its stake in Wayfair by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock worth $3,860,000 after acquiring an additional 383 shares in the last quarter. Employees Retirement System of Texas grew its holdings in shares of Wayfair by 28.5% during the fourth quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $1,563,000 after purchasing an additional 7,813 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Wayfair by 142.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock worth $6,721,000 after purchasing an additional 89,053 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Wayfair in the 4th quarter valued at about $1,536,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Wayfair in the 4th quarter valued at about $3,560,000. Hedge funds and other 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.