Brokerages Set Wayfair Inc. (NYSE:W) Target Price at $100.36

Wayfair Inc. (NYSE:W) has received a consensus recommendation of “Moderate Buy” from the thirty-one analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $100.3571.

A number of brokerages have recently commented on W. Guggenheim reissued a “buy” rating and set a $100.00 price target on shares of Wayfair in a research note on Wednesday, May 20th. 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 report on Thursday, April 30th. Needham & Company LLC cut their target price on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. TD Cowen reduced their target price on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Finally, Jefferies Financial Group decreased their price target on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, April 30th.

Wayfair Stock Performance

Shares of W opened at $84.70 on Friday. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of -36.20, a PEG ratio of 4.61 and a beta of 2.96. The stock has a fifty day moving average of $79.84 and a 200-day moving average of $83.36.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the company posted $0.10 EPS. Wayfair’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Wayfair will post 0.63 EPS for the current year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, Director Steven Conine sold 112,861 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the completion of the sale, the director owned 436,212 shares of the company’s stock, valued at $33,806,430. The trade was a 20.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 245,925 shares of company stock worth $19,183,749. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Webster Bank N. A. acquired a new position in shares of Wayfair in the fourth quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new stake in Wayfair during the 4th quarter valued at approximately $33,000. Piper Sandler & CO. acquired a new stake in Wayfair during the 4th quarter valued at approximately $34,000. Havemeyer Place LP bought a new position in Wayfair during the 4th quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC raised its holdings 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. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.