Wayfair (NYSE:W) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Wayfair (NYSE:W) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $75.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.84% from the company’s current price.

Several other analysts have also issued reports on W. Bank of America lifted their target price on shares of Wayfair from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Stifel Nicolaus lifted their price objective on Wayfair from $32.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Loop Capital reissued a “sell” rating and set a $35.00 target price on shares of Wayfair in a report on Wednesday, May 14th. Needham & Company LLC lifted their price target on Wayfair from $40.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group raised their price objective on Wayfair from $55.00 to $80.00 and gave the company a “buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.96.

Wayfair Trading Up 4.2%

Shares of W stock opened at $76.75 on Tuesday. The company has a market capitalization of $9.85 billion, a P/E ratio of -31.98 and a beta of 2.92. Wayfair has a 12-month low of $20.41 and a 12-month high of $77.30. The business’s 50 day moving average is $54.66 and its two-hundred day moving average is $42.91.

Wayfair (NYSE:W) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the business earned $0.47 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 60,000 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $56.03, for a total transaction of $3,361,800.00. Following the transaction, the chief executive officer owned 169,137 shares of the company’s stock, valued at approximately $9,476,746.11. This trade represents a 26.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Conine sold 60,000 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.02, for a total value of $3,361,200.00. Following the completion of the sale, the insider directly owned 169,073 shares of the company’s stock, valued at $9,471,469.46. The trade was a 26.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 800,204 shares of company stock valued at $40,135,236. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several large investors have recently modified their holdings of W. Capital World Investors grew its position in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after buying an additional 782,757 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after acquiring an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP boosted its holdings in shares of Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after acquiring an additional 1,200,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Wayfair by 17.9% during the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after acquiring an additional 581,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Wayfair by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company’s stock worth $68,584,000 after purchasing an additional 22,078 shares in the last quarter. 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.