Wayfair’s (W) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Wayfair (NYSE:W) in a report issued on Monday, Benzinga reports. They currently have a $70.00 target price on the stock.

W has been the subject of a number of other research reports. Barclays dropped their price objective on shares of Wayfair from $85.00 to $60.00 and set an equal weight rating for the company in a report on Thursday, January 4th. Truist Financial cut their price target on shares of Wayfair from $65.00 to $63.00 and set a buy rating for the company in a report on Friday, February 23rd. Needham & Company LLC reiterated a buy rating and issued a $75.00 price objective on shares of Wayfair in a report on Thursday, February 22nd. Loop Capital raised their target price on Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. Finally, Canaccord Genuity Group reaffirmed a buy rating and issued a $80.00 price target on shares of Wayfair in a research note on Friday, February 23rd. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $77.03.

Wayfair Stock Up 2.0 %

Shares of NYSE W opened at $54.75 on Monday. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -8.40 and a beta of 3.29. Wayfair has a 52 week low of $29.51 and a 52 week high of $90.71. The firm has a 50-day simple moving average of $59.45 and a 200-day simple moving average of $55.08.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, equities research analysts expect that Wayfair will post -3.37 EPS for the current year.

Insider Activity

In other news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the completion of the transaction, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $59.90, for a total value of $599,000.00. Following the completion of the sale, the chief executive officer now directly owns 249,137 shares of the company’s stock, valued at $14,923,306.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Thomas Netzer sold 984 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the transaction, the chief operating officer now directly owns 117,841 shares in the company, valued at approximately $7,138,807.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,808 shares of company stock worth $5,445,222. 23.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Large investors have recently made changes to their positions in the company. M&T Bank Corp lifted its stake in Wayfair by 4.3% in the third quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock valued at $318,000 after buying an additional 219 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Wayfair by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock valued at $409,000 after acquiring an additional 276 shares during the period. Treasurer of the State of North Carolina raised its position in Wayfair by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after purchasing an additional 360 shares during the last quarter. Amalgamated Bank boosted its stake in Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after purchasing an additional 397 shares during the period. Finally, Riverview Trust Co purchased a new position in Wayfair during the 1st quarter worth $27,000. 89.67% of the stock is 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.