Wayfair (NYSE:W) Given New $61.00 Price Target at BMO Capital Markets

Wayfair (NYSE:W) had its price objective lifted by investment analysts at BMO Capital Markets from $57.00 to $61.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential downside of 4.07% from the company’s previous close.

Several other research firms have also issued reports on W. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Wayfair in a research note on Thursday. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Friday, February 16th. Finally, TD Cowen upped their price target on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.45.

Wayfair Stock Performance

NYSE:W opened at $63.59 on Friday. The firm has a 50-day simple moving average of $59.92 and a 200-day simple moving average of $55.21. Wayfair has a one year low of $33.85 and a one year high of $90.71. The firm has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. On average, research analysts predict that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the sale, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the sale, the chief operating officer now directly owns 116,622 shares in the company, valued at $6,964,665.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,156 shares of company stock valued at $5,465,688. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently modified their holdings of the company. Capital World Investors boosted its stake in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after acquiring an additional 962,307 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wayfair by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock worth $500,014,000 after acquiring an additional 273,652 shares in the last quarter. Atreides Management LP boosted its stake in shares of Wayfair by 1.8% during the 3rd quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after acquiring an additional 16,932 shares in the last quarter. Norges Bank purchased a new stake in shares of Wayfair during the 4th quarter worth about $47,374,000. Finally, Wellington Management Group LLP boosted its stake in shares of Wayfair by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares in the last quarter. 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.