Wayfair Inc. (NYSE:W) Receives $105.29 Average PT from Brokerages

by · The Cerbat Gem

Shares of Wayfair Inc. (NYSE:W – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the thirty-two analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $105.2857.

W has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Wayfair from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Raymond James Financial upped their price target on shares of Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 29th. Barclays increased their price objective on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Oppenheimer raised their price objective on shares of Wayfair from $100.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Finally, BMO Capital Markets set a $110.00 target price on shares of Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th.

Check Out Our Latest Stock Report on Wayfair

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $102.33, for a total value of $3,069,900.00. Following the completion of the transaction, the insider directly owned 439,073 shares in the company, valued at $44,930,340.09. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Fiona Tan sold 6,347 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer directly owned 198,860 shares of the company’s stock, valued at approximately $19,993,384.40. This trade represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,085,959 shares of company stock worth $103,711,474. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC increased its stake in Wayfair by 9,324.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 12,534 shares of the company’s stock worth $1,119,000 after buying an additional 12,401 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Wayfair by 295.0% in the third quarter. Allworth Financial LP now owns 877 shares of the company’s stock worth $78,000 after acquiring an additional 655 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in shares of Wayfair during the third quarter worth about $394,000. Advisory Services Network LLC grew its position in shares of Wayfair by 40.2% during the third quarter. Advisory Services Network LLC now owns 15,148 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,341 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Wayfair by 1,506.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 612,809 shares of the company’s stock valued at $54,742,000 after purchasing an additional 574,660 shares during the period. Institutional investors own 89.67% of the company’s stock.

Wayfair Trading Down 0.6%

Wayfair stock opened at $100.44 on Monday. Wayfair has a 12 month low of $20.41 and a 12 month high of $114.92. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -39.23 and a beta of 3.25. The business’s fifty day simple moving average is $101.12 and its two-hundred day simple moving average is $82.07.

Wayfair (NYSE:W – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Wayfair will post -2.54 EPS for the current year.

About Wayfair

(Get Free Report)

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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