Evercore ISI Increases Wayfair (NYSE:W) Price Target to $115.00

Wayfair (NYSE:W) had its price objective lifted by analysts at Evercore ISI from $100.00 to $115.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 11.10% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. The Goldman Sachs Group boosted their price target on shares of Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wedbush reissued a “neutral” rating on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Raymond James Financial boosted their price target on shares of Wayfair from $90.00 to $130.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.04.

Wayfair Trading Up 1.1%

Shares of NYSE W opened at $103.51 on Thursday. Wayfair has a 1-year low of $20.41 and a 1-year high of $108.72. The company has a market cap of $13.42 billion, a PE ratio of -40.43 and a beta of 3.03. The company has a 50-day moving average of $84.70 and a two-hundred day moving average of $62.15.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven Conine sold 199,473 shares of the business’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 transaction of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares in the company, valued at approximately $42,655,323.20. The trade was a 26.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 199,422 shares of the business’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 transaction of $15,634,684.80. Following the transaction, 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 position. The SEC filing for this sale provides additional information. In the last 90 days, 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in shares of Wayfair by 8.4% in the third quarter. Versant Capital Management Inc now owns 1,948 shares of the company’s stock valued at $174,000 after buying an additional 151 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Wayfair by 3.0% in the second quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock valued at $352,000 after buying an additional 200 shares during the period. True Wealth Design LLC boosted its holdings in shares of Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after buying an additional 233 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.