BMO Capital Markets Raises Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price target boosted by equities researchers at BMO Capital Markets from $50.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 31.22% from the company’s current price.

A number of other research firms also recently commented on W. Royal Bank of Canada dropped their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Loop Capital cut their price target on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Wayfair in a report on Friday. Finally, Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.40.

Wayfair Trading Down 9.0 %

W stock opened at $41.92 on Friday. The stock’s 50 day simple moving average is $46.22 and its 200 day simple moving average is $46.51. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market cap of $5.25 billion, a P/E ratio of -10.43 and a beta of 3.43.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,228 shares of company stock worth $7,830,018. 26.81% of the stock is owned by insiders.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Wayfair during the third quarter worth about $29,000. True Wealth Design LLC increased its position in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp increased its position in shares of Wayfair by 71.3% during 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 during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.