Wayfair Inc. (NYSE:W) Given Consensus Rating of “Moderate Buy” by Brokerages

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine investment 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 company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $77.29.

W has been the topic of several research reports. Raymond James upgraded 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 research report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Wayfair in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price target on shares of Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and increased their price target for the company from $65.00 to $80.00 in a research report on Thursday, April 4th. Finally, Mizuho initiated coverage on shares of Wayfair in a research report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price target on the stock.

Wayfair Trading Up 1.7 %

Shares of W opened at $69.57 on Wednesday. The firm’s 50-day moving average is $60.49 and its two-hundred day moving average is $55.64. Wayfair has a twelve month low of $33.85 and a twelve month high of $90.71. The firm has a market capitalization of $8.37 billion, a P/E ratio of -12.98 and a beta of 3.32.

Wayfair (NYSE:W) last issued its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Analysts predict that Wayfair will post -3.37 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the transaction, the insider now owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the transaction, the insider now owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 8,300 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.31, for a total transaction of $434,173.00. Following the completion of the transaction, the insider now directly owns 259,073 shares in the company, valued at approximately $13,552,108.63. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 over the last quarter. Company insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Wayfair during the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wayfair during the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new position in Wayfair during the 4th quarter worth $31,000. DekaBank Deutsche Girozentrale acquired a new position in Wayfair during the 3rd quarter worth $34,000. Finally, ORG Partners LLC acquired a new position in Wayfair during the 1st quarter worth $37,000. 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.