UBS Group Issues Positive Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price objective hoisted by UBS Group from $80.00 to $91.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on W. Truist Financial set a $40.00 price target on shares of Wayfair in a research report on Friday, May 2nd. Citigroup raised shares of Wayfair from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $93.00 in a research report on Tuesday. The Goldman Sachs Group dropped their price target on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Evercore ISI increased their price target on shares of Wayfair from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, June 24th. Finally, Zelman & Associates increased their price target on shares of Wayfair from $55.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.77.

Wayfair Price Performance

Shares of NYSE:W opened at $73.67 on Tuesday. The company’s fifty day moving average price is $53.98 and its 200-day moving average price is $42.67. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of -30.70 and a beta of 2.92. Wayfair has a one year low of $20.41 and a one year high of $76.29.

Wayfair (NYSE:W) last released its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business posted $0.47 EPS. Wayfair’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Wayfair will post -2.54 EPS for the current year.

Insider Activity

In other Wayfair news, insider Steven Conine sold 180,943 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the sale, the insider directly owned 236,167 shares in the company, valued at approximately $12,420,022.53. This trade represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 179,707 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total transaction of $9,448,994.06. Following the sale, the chief executive officer owned 236,850 shares of the company’s stock, valued at approximately $12,453,573. This represents a 43.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 800,204 shares of company stock valued at $40,135,236. 21.91% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Wayfair by 60.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock valued at $250,000 after purchasing an additional 2,116 shares in the last quarter. LPL Financial LLC grew its stake in shares of Wayfair by 218.2% in the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company’s stock worth $1,706,000 after acquiring an additional 26,390 shares during the period. GAMMA Investing LLC grew its stake in shares of Wayfair by 5,850.4% in the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company’s stock worth $1,319,000 after acquiring an additional 41,538 shares during the period. SG Americas Securities LLC grew its stake in shares of Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company’s stock worth $703,000 after acquiring an additional 9,372 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Wayfair by 11.4% in the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company’s stock worth $20,540,000 after acquiring an additional 47,326 shares during the period. 89.67% of the stock is currently owned by 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.