Raymond James Financial Increases Wayfair (NYSE:W) Price Target to $130.00

Wayfair (NYSE:W) had its target price lifted by equities researchers at Raymond James Financial from $90.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James Financial’s price objective points to a potential upside of 26.74% from the company’s previous close.

Several other analysts also recently issued reports on the company. Truist Financial raised their price target on Wayfair from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI raised their price target on Wayfair from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. UBS Group raised their price target on Wayfair from $102.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their target price on Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, Needham & Company LLC raised their target price on Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $102.04.

Wayfair Trading Down 1.0%

Shares of NYSE W opened at $102.58 on Wednesday. The company has a market cap of $13.30 billion, a price-to-earnings ratio of -40.07 and a beta of 3.03. Wayfair has a 12-month low of $20.41 and a 12-month high of $108.72. The stock’s 50 day simple moving average is $84.18 and its 200 day simple moving average is $61.62.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. As a group, equities analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.09, for a total transaction of $3,152,700.00. Following the completion of the sale, the insider directly owned 139,073 shares of the company’s stock, valued at $14,615,181.57. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Niraj Shah sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the sale, the chief executive officer directly owned 139,137 shares of the company’s stock, valued at approximately $14,623,298.70. This represents a 17.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,260,000 shares of company stock valued at $103,696,337. Corporate insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently modified their holdings of the stock. True Wealth Design LLC boosted its stake in shares of Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Wayfair by 156.3% during the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after acquiring an additional 609 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after acquiring an additional 1,097 shares in the last quarter. 89.67% of the stock is owned by 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.