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

Wayfair Inc. (NYSE:W) has been assigned an average recommendation of “Moderate Buy” from the thirty-two research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eighteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $105.2857.

A number of equities research analysts have recently weighed in on W shares. Needham & Company LLC lifted their price objective on Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada increased their target price on Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Truist Financial boosted their price objective on shares of Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Gordon Haskett raised Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Tuesday, October 28th. Finally, Citigroup raised their target price on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 150,000 shares of Wayfair 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 owned 729,073 shares in the company, valued at $77,223,412.16. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the completion of the sale, the chief executive officer owned 729,137 shares in the company, valued at approximately $77,222,899.67. The trade was a 17.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 785,959 shares of company stock valued at $73,505,974. Corporate insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC increased its position in shares of Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 282 shares during the period. True Wealth Design LLC grew its holdings in Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Global Retirement Partners LLC increased its position in Wayfair by 156.3% during the 3rd 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. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 653 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

NYSE:W opened at $102.22 on Monday. Wayfair has a 1-year low of $20.41 and a 1-year high of $114.92. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of -39.93 and a beta of 3.25. The business has a 50 day moving average of $99.96 and a 200 day moving average of $81.17.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the business earned $0.22 EPS. Wayfair’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.