Wayfair’s (W) Outperform Rating Reiterated at Wedbush

Wayfair (NYSE:W)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $70.00 price target on the stock. Wedbush’s target price suggests a potential upside of 10.08% from the company’s previous close.

W has been the topic of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Wayfair in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $80.00 price objective on shares of Wayfair in a research note on Monday, March 25th. Loop Capital lifted their price target on Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $91.00 price target (up from $88.00) on shares of Wayfair in a research report on Friday. Finally, Mizuho started coverage on Wayfair in a research report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $76.45.

Wayfair Price Performance

Shares of Wayfair stock opened at $63.59 on Friday. The stock has a 50-day simple moving average of $59.92 and a 200-day simple moving average of $55.21. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71. The firm has a market cap of $7.65 billion, a price-to-earnings 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts predict that Wayfair will post -3.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 984 shares of Wayfair stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the transaction, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Niraj Shah sold 1,700 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the sale, the chief executive officer now owns 267,437 shares in the company, valued at $13,912,072.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Netzer sold 984 shares of Wayfair 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 completion of the transaction, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,156 shares of company stock valued at $5,465,688. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of W. Capital World Investors increased its holdings in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares in the last quarter. Norges Bank bought a new position in Wayfair in the 4th quarter valued at $47,374,000. AQR Capital Management LLC increased its stake in shares of Wayfair by 422.6% in the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock valued at $30,979,000 after buying an additional 413,592 shares during the period. Vanguard Group Inc. raised its position in shares of Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Wayfair during the fourth quarter valued at $23,552,000. 89.67% of the stock is owned by 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.