Wayfair Inc. (NYSE:W) Receives $104.62 Consensus PT from Brokerages

by · The Markets Daily

Wayfair Inc. (NYSE:W – Get Free Report) has received a consensus rating of “Moderate Buy” from the thirty-two ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $104.6207.

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Wayfair from $100.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Morgan Stanley increased their price objective on shares of Wayfair from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Mizuho cut their target price on shares of Wayfair from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Truist Financial decreased their target price on Wayfair from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 20th.

Read Our Latest Report on W

Insiders Place Their Bets

In related news, insider Steven Conine sold 26,950 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $78.86, for a total transaction of $2,125,277.00. Following the completion of the transaction, the insider directly owned 169,073 shares in the company, valued at $13,333,096.78. This represents a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Blotner sold 4,997 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $105.84, for a total value of $528,882.48. Following the completion of the sale, the insider directly owned 106,107 shares in the company, valued at $11,230,364.88. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 890,494 shares of company stock worth $86,493,261. 21.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new position in Wayfair during the 3rd quarter valued at about $3,946,000. Range Financial Group LLC acquired a new stake in shares of Wayfair in the third quarter valued at approximately $1,330,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Wayfair in the third quarter valued at approximately $3,332,000. Hook Mill Capital Partners LP bought a new stake in shares of Wayfair during the second quarter valued at approximately $39,965,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Wayfair during the third quarter valued at approximately $1,107,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Trading Up 4.4%

W stock opened at $79.11 on Friday. The stock’s 50 day simple moving average is $93.50 and its 200 day simple moving average is $93.75. Wayfair has a 12-month low of $20.41 and a 12-month high of $119.98. The firm has a market cap of $10.34 billion, a P/E ratio of -32.55, a P/E/G ratio of 5.61 and a beta of 3.40.

Wayfair (NYSE:W – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. Wayfair had a negative net margin of 2.51% and a negative return on equity of 1.52%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Wayfair Company Profile

(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.

Recommended Stories