Wayfair (NYSE:W) Trading Up 9.8% – What’s Next?

Wayfair Inc. (NYSE:W) shares rose 9.8% during mid-day trading on Tuesday . The stock traded as high as $74.88 and last traded at $73.72. Approximately 502,243 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 3,825,057 shares. The stock had previously closed at $67.15.

Wall Street Analyst Weigh In

Several brokerages have commented on W. Guggenheim reissued a “buy” rating and set a $100.00 target price on shares of Wayfair in a research note on Wednesday, May 20th. Mizuho lowered their target price on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company lowered their price objective on Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. UBS Group cut their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Stifel Nicolaus decreased their target price on Wayfair from $100.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and an average target price of $99.68.

Wayfair Stock Performance

The company has a market cap of $9.25 billion, a PE ratio of -29.85, a P/E/G ratio of 3.59 and a beta of 3.02. The stock’s 50-day simple moving average is $70.47 and its 200 day simple moving average is $86.33.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts predict that Wayfair Inc. will post 0.63 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 113,863 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer owned 435,274 shares in the company, valued at approximately $33,729,382.26. This represents a 20.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of Wayfair stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director owned 436,212 shares of the company’s stock, valued at approximately $33,806,430. This represents a 20.55% 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. Insiders have sold a total of 463,785 shares of company stock valued at $35,864,224 in the last ninety days. 18.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently modified their holdings of the company. Optas LLC boosted its stake in shares of Wayfair by 2.1% during the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after purchasing an additional 106 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after acquiring an additional 120 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Wayfair by 3.3% in the fourth quarter. Wedmont Private Capital now owns 3,774 shares of the company’s stock worth $415,000 after acquiring an additional 121 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Wayfair by 37.7% in the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock worth $45,000 after acquiring an additional 123 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Wayfair by 2.3% in the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after acquiring an additional 124 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

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.