Wayfair Inc. (NYSE:W)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research report issued on Tuesday. They currently have a $55.00 price target on the stock. Canaccord Genuity’s target price would suggest a potential upside of 42.75% from the stock’s current price.
Several other equities research analysts have also issued reports on W. Vetr lowered shares of Wayfair from a “strong-buy” rating to a “buy” rating and set a $48.00 price objective for the company. in a research note on Wednesday, June 8th. William Blair assumed coverage on shares of Wayfair in a report on Friday, June 10th. They issued a “market perform” rating on the stock. Longbow Research assumed coverage on shares of Wayfair in a report on Thursday, June 16th. They issued a “neutral” rating on the stock. Cowen and Company reiterated a “buy” rating and issued a $61.00 target price on shares of Wayfair in a report on Tuesday, June 21st. Finally, Zacks Investment Research upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a report on Saturday, July 9th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Wayfair presently has an average rating of “Hold” and an average price target of $51.42.
Shares of Wayfair (NYSE:W) traded up 0.29% during trading on Tuesday, hitting $38.53. 1,246,614 shares of the stock traded hands. The firm has a 50 day moving average price of $39.58 and a 200-day moving average price of $40.18. Wayfair has a one year low of $28.85 and a one year high of $50.00. The company’s market cap is $3.27 billion.
Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by $0.02. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The business earned $755.70 million during the quarter, compared to analyst estimates of $782.43 million. During the same period in the previous year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was up 60.0% on a year-over-year basis. Analysts anticipate that Wayfair will post ($1.67) earnings per share for the current fiscal year.
In other news, CEO Niraj Shah sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $41.37, for a total transaction of $496,440.00. Following the transaction, the chief executive officer now directly owns 35,689 shares in the company, valued at $1,476,453.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmond Macri sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $44.50, for a total transaction of $26,700.00. Following the transaction, the insider now owns 237,308 shares in the company, valued at $10,560,206. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in shares of Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock worth $58,876,000 after buying an additional 866,829 shares during the last quarter. Samlyn Capital LLC bought a new position in shares of Wayfair during the first quarter worth about $31,237,000. Emerald Acquisition Ltd. bought a new position in shares of Wayfair during the second quarter worth about $20,508,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Wayfair by 99.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 640,840 shares of the company’s stock worth $24,993,000 after buying an additional 320,074 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Wayfair by 60.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 708,000 shares of the company’s stock worth $27,612,000 after buying an additional 268,000 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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