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

Shares of Wayfair Inc. (NYSE:W) have been assigned an average recommendation of “Moderate Buy” from the thirty-one brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $100.3571.

W has been the topic of several recent research reports. Benchmark started coverage on Wayfair in a research report on Tuesday, July 7th. They set a “hold” rating on the stock. Citigroup reduced their target price on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Morgan Stanley set a $110.00 price target on shares of Wayfair in a research note on Friday, May 1st. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a research report on Friday, May 1st. Finally, Royal Bank Of Canada dropped their price objective on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Niraj Shah sold 113,863 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total value of $8,823,243.87. Following the sale, the chief executive officer directly owned 435,274 shares in the company, valued at $33,729,382.26. This represents a 20.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 245,925 shares of company stock valued at $19,183,749. 18.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Wayfair by 29.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Prudential Financial Inc. raised its stake in Wayfair by 30.4% in the second quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock valued at $375,000 after purchasing an additional 1,710 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Wayfair by 12.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock worth $126,000 after purchasing an additional 270 shares during the period. M&T Bank Corp acquired a new stake in Wayfair during the second quarter worth about $262,000. Finally, EverSource Wealth Advisors LLC grew its stake in Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Down 0.3%

Shares of NYSE:W opened at $91.37 on Friday. Wayfair has a 12-month low of $55.01 and a 12-month high of $119.98. The business has a 50 day moving average of $78.35 and a 200-day moving average of $83.65. The stock has a market cap of $12.06 billion, a PE ratio of -39.05, a P/E/G ratio of 4.82 and a beta of 2.96.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts expect that Wayfair will post 0.63 earnings per share 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.