Wayfair Inc. (NYSE:W) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Wayfair Inc. (NYSE:W) have received an average rating of “Moderate Buy” from the thirty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $107.2143.

Several brokerages have commented on W. Raymond James Financial lifted their price objective on shares of Wayfair from $90.00 to $130.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 29th. Bank of America upgraded shares of Wayfair from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 28th. Mizuho reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Wayfair in a report on Friday, January 2nd. Needham & Company LLC increased their price objective on Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Evercore raised their target price on Wayfair from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th.

Wayfair Price Performance

NYSE W opened at $82.41 on Tuesday. The business’s fifty day moving average is $102.59 and its 200-day moving average is $93.43. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of -32.19, a PEG ratio of 7.87 and a beta of 3.36. Wayfair has a one year low of $20.41 and a one year high of $119.98.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $108.87, for a total value of $16,330,500.00. Following the completion of the sale, the insider owned 289,073 shares of the company’s stock, valued at approximately $31,471,377.51. This trade represents a 34.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the sale, the chief executive officer directly owned 289,137 shares in the company, valued at approximately $31,478,345.19. This trade represents a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 950,494 shares of company stock worth $100,127,813 over the last 90 days. 21.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its holdings in shares of Wayfair by 28,200.0% in the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 282 shares in the last quarter. Webster Bank N. A. bought a new stake in Wayfair during the 4th quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Wayfair in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.