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

Shares of Wayfair Inc. (NYSE:W) have earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $60.24.

W has been the topic of several research reports. Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada reduced their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Piper Sandler lowered their price objective on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th.

Wayfair Stock Performance

Shares of W opened at $44.08 on Monday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The company has a market capitalization of $5.52 billion, a PE ratio of -9.82 and a beta of 3.43. The company’s 50 day moving average price is $45.42 and its 200 day moving average price is $47.58.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) earnings per share. On average, equities analysts forecast that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now owns 179,073 shares in the company, 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 128,481 shares of company stock worth $6,007,310 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. 272 Capital LP grew its stake in Wayfair by 15.7% in the 3rd quarter. 272 Capital LP now owns 44,053 shares of the company’s stock valued at $2,475,000 after buying an additional 5,965 shares in the last quarter. Tidal Investments LLC raised its holdings in Wayfair by 18.1% during the 3rd quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after acquiring an additional 3,320 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock worth $8,283,000 after acquiring an additional 20,884 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after purchasing an additional 35,268 shares during the period. 89.67% of the stock is currently owned by institutional investors.

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.