Truist Financial Increases Wayfair (NYSE:W) Price Target to $70.00

Wayfair (NYSE:W) had its target price raised by analysts at Truist Financial from $63.00 to $70.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 10.08% from the company’s previous close.

Several other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays cut their price target on Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, January 4th. Wedbush reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Wayfair in a report on Friday. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Wayfair in a report on Friday, February 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $91.00 price target (up previously from $88.00) on shares of Wayfair in a research note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $76.45.

Wayfair Trading Up 8.4 %

Shares of W opened at $63.59 on Friday. The business’s 50 day moving average is $59.92 and its 200 day moving average is $55.21. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71. The company has a market capitalization of $7.65 billion, a PE ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Equities research analysts predict that Wayfair will post -3.37 earnings per share for the current year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Insiders sold 90,156 shares of company stock worth $5,465,688 in the last 90 days. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

A number of hedge funds have recently added to or reduced their stakes in W. Riverview Trust Co purchased a new position in Wayfair during the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair in the fourth quarter worth approximately $29,000. GAMMA Investing LLC purchased a new stake in Wayfair during the fourth quarter worth $31,000. BluePath Capital Management LLC bought a new stake in Wayfair during the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Wayfair in the 3rd quarter valued at $34,000. 89.67% of the stock is owned by hedge funds and other 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.