Wayfair (NYSE:W) Stock Price Expected to Rise, UBS Group Analyst Says

Wayfair (NYSE:W) had its target price raised by research analysts at UBS Group from $91.00 to $102.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 23.76% from the company’s previous close.

W has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on shares of Wayfair from $25.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 5th. Canaccord Genuity Group upped their target price on shares of Wayfair from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their target price on shares of Wayfair from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 5th. BMO Capital Markets reiterated a “market perform” rating and set a $68.00 target price (up from $38.00) on shares of Wayfair in a research report on Tuesday, August 5th. Finally, Needham & Company LLC upped their target price on shares of Wayfair from $40.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.50.

Wayfair Trading Down 0.9%

Shares of W stock opened at $82.42 on Friday. Wayfair has a 1 year low of $20.41 and a 1 year high of $91.77. The firm’s 50 day moving average is $81.92 and its 200-day moving average is $57.64. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of -34.34 and a beta of 3.03.

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

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the sale, the chief executive officer owned 544,137 shares of the company’s stock, valued at approximately $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 199,473 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the completion of the sale, the insider owned 544,073 shares in the company, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 910,000 shares of company stock worth $70,308,337 over the last 90 days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of W. Alyeska Investment Group L.P. raised its holdings in Wayfair by 681.8% in the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP raised its holdings in Wayfair by 42.9% in the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after purchasing an additional 1,200,000 shares during the period. AQR Capital Management LLC raised its holdings in Wayfair by 197.3% in the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after purchasing an additional 1,033,865 shares during the period. Holocene Advisors LP raised its holdings in Wayfair by 351.9% in the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after purchasing an additional 1,007,676 shares during the period. Finally, Spruce House Investment Management LLC raised its holdings in Wayfair by 37.6% in the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after purchasing an additional 819,615 shares during the period. 89.67% of the stock is currently 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.