Needham & Company LLC Reiterates “Buy” Rating for Wayfair (NYSE:W)

Wayfair (NYSE:W)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $50.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 48.10% from the company’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $25.00 price target on shares of Wayfair in a research note on Friday, April 25th. The Goldman Sachs Group lowered their price target on Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Raymond James set a $60.00 target price on shares of Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Sixteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Hold” and an average target price of $49.38.

Wayfair Stock Up 8.1 %

W stock opened at $33.76 on Thursday. The stock’s 50 day moving average is $31.32 and its two-hundred day moving average is $40.84. Wayfair has a 52-week low of $20.41 and a 52-week high of $76.18. The company has a market capitalization of $4.28 billion, a PE ratio of -8.40 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm posted ($0.32) EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 19,257 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the sale, the insider now owns 78,308 shares in the company, valued at approximately $2,480,797.44. This represents a 19.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the transaction, the chief technology officer now directly owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,863 shares of company stock worth $3,393,929 in the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC lifted its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. GAMMA Investing LLC increased its stake in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors 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.