JPMorgan Chase & Co. Issues Positive Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price target hoisted by JPMorgan Chase & Co. from $82.00 to $105.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC boosted their target price on Wayfair from $40.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Wedbush restated a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Evercore ISI boosted their target price on Wayfair from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Zelman & Associates boosted their target price on Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.77.

Wayfair Trading Up 4.5%

W stock opened at $86.80 on Monday. Wayfair has a 12-month low of $20.41 and a 12-month high of $91.77. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -36.16 and a beta of 3.03. The business’s 50-day moving average is $82.64 and its 200 day moving average is $60.24.

Wayfair (NYSE:W) last issued its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, equities analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares in the company, valued at $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer owned 544,137 shares of the company’s stock, valued at $42,660,340.80. This represents a 26.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,200,000 shares of company stock valued at $97,390,637 in the last 90 days. 21.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after buying an additional 276,471 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Wayfair in the first quarter valued at about $452,000. Signaturefd LLC raised its holdings in Wayfair by 10.1% during the second quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after purchasing an additional 34,507 shares in the last quarter. Rhumbline Advisers raised its holdings in Wayfair by 4.3% during the first quarter. Rhumbline Advisers now owns 91,272 shares of the company’s stock worth $2,923,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Wayfair by 40.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock worth $603,000 after purchasing an additional 3,395 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.