Wayfair (NYSE:W) Given New $65.00 Price Target at Royal Bank of Canada

Wayfair (NYSE:W) had its target price lifted by equities research analysts at Royal Bank of Canada from $61.00 to $65.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 6.57% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $80.00 in a research note on Thursday, April 4th. Sanford C. Bernstein increased their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Loop Capital lifted their price objective on Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Raymond James upgraded Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Friday, February 16th. Finally, Wedbush restated an “outperform” rating and issued a $70.00 price objective on shares of Wayfair in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.29.

Wayfair Price Performance

Shares of NYSE:W opened at $69.57 on Monday. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -12.98 and a beta of 3.32. The business’s 50 day simple moving average is $60.49 and its 200-day simple moving average is $55.64. Wayfair has a 12 month low of $33.85 and a 12 month high of $90.71.

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

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,144 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the transaction, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jon Blotner sold 4,144 shares of Wayfair stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.52, for a total transaction of $250,794.88. Following the sale, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Niraj Shah sold 1,700 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the sale, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,664 shares of company stock worth $5,289,900. Company insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in shares of Wayfair in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Wayfair in the fourth quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC bought a new position in Wayfair during the 3rd quarter worth approximately $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.