Wayfair Inc. (NYSE:W) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wayfair Inc. (NYSE:W) has earned a consensus rating of “Moderate Buy” from the thirty-two brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $105.2857.

A number of analysts have issued reports on W shares. Cowen reissued a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Truist Financial lifted their price objective on Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group boosted their price objective on Wayfair from $80.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Bank of America raised Wayfair from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 target price on Wayfair in a report on Friday, October 24th.

Wayfair Price Performance

Shares of W stock opened at $95.44 on Thursday. The firm has a market cap of $12.44 billion, a PE ratio of -37.28 and a beta of 3.25. The company has a 50-day moving average of $94.78 and a two-hundred day moving average of $74.14. Wayfair has a 1-year low of $20.41 and a 1-year high of $114.92.

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

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 150,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the sale, the insider directly owned 729,073 shares in the company, valued at $77,223,412.16. This represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Niraj Shah sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the completion of the transaction, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This represents a 17.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 955,959 shares of company stock valued at $88,260,274. Insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in shares of Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 282 shares in the last quarter. True Wealth Design LLC increased its holdings in 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 last quarter. Global Retirement Partners LLC raised its stake in 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 in the last quarter. Larson Financial Group LLC raised its stake in Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Wayfair by 56.5% during the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after buying an additional 229 shares during the last quarter. 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.