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

Wayfair Inc. (NYSE:W) has received a consensus recommendation of “Moderate Buy” from the twenty-six brokerages that are covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $60.28.

Several brokerages have recently issued reports on W. Piper Sandler decreased their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Mizuho dropped their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Robert W. Baird lowered their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st.

Wayfair Price Performance

W stock opened at $45.45 on Thursday. The company’s 50-day moving average is $46.50 and its 200-day moving average is $48.77. The stock has a market capitalization of $5.70 billion, a PE ratio of -10.12 and a beta of 3.44. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business earned ($1.38) earnings per share. Wayfair’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,896 shares of company stock worth $4,869,409. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Wayfair by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock valued at $15,319,000 after buying an additional 31,576 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Wayfair by 23.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock valued at $33,549,000 after acquiring an additional 121,792 shares during the last quarter. My Personal CFO LLC purchased a new stake in Wayfair during the second quarter valued at approximately $1,201,000. BloombergSen Inc. boosted its stake in Wayfair by 12.5% in the second quarter. BloombergSen Inc. now owns 16,592 shares of the company’s stock valued at $875,000 after acquiring an additional 1,841 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Wayfair in the second quarter worth $58,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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.