Wayfair (NYSE:W) Raised to “Strong-Buy” at Rosenblatt Securities

Wayfair (NYSE:W) was upgraded by stock analysts at Rosenblatt Securities to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also recently weighed in on W. Robert W. Baird set a $116.00 price target on Wayfair in a research note on Wednesday, August 5th. Needham & Company LLC increased their price objective on Wayfair from $83.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Truist Financial lifted their price objective on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of Wayfair in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.89.

Wayfair Stock Down 4.1%

Shares of W opened at $103.41 on Wednesday. The company has a market capitalization of $13.65 billion, a P/E ratio of -42.04, a price-to-earnings-growth ratio of 4.78 and a beta of 2.99. The firm has a 50 day moving average of $93.13 and a 200 day moving average of $81.41. Wayfair has a twelve month low of $55.60 and a twelve month high of $119.98.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Wayfair will post 0.75 EPS for the current year.

Insider Activity

In other news, insider Jon Blotner sold 5,925 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 69,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer owned 360,137 shares in the company, valued at approximately $37,223,760.32. This trade represents a 16.08% 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. Insiders have sold 143,925 shares of company stock valued at $14,834,198 in the last ninety days. 18.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $2,147,000 after purchasing an additional 15,084 shares during the period. Prudential Financial Inc. increased its position in shares of Wayfair by 30.4% during the 2nd 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 during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Wayfair by 12.3% in the 2nd 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 bought a new position in shares of Wayfair in the 2nd quarter worth approximately $262,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Wayfair by 393.4% in 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 during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Rosenblatt initiates a Buy rating: Rosenblatt Securities began covering Wayfair with a Buy rating and a $125 price target, implying roughly 21% upside from the referenced price. The firm also describes Wayfair as a potential beneficiary of artificial-intelligence adoption, which may improve shopping personalization, search and operational efficiency. Benzinga analyst coverage report Rosenblatt Wayfair AI beneficiary article
• Positive Sentiment: Retail and expansion visibility: Wayfair continues to receive consumer-media exposure for furniture, home organization, patio and seasonal products. The planned opening date for a Wayfair Outlet in Dublin also points to continued experimentation with physical retail, although the financial contribution is not yet clear. Wayfair Outlet Dublin opening article
• Neutral Sentiment: Promotional product coverage: Articles highlighting Wayfair deals and popular products—including patio furniture, storage sheds, shoe cabinets, bedroom and kitchen furnishings, and pet products—could support brand engagement and sales, but they provide no new company financial data or evidence of a material change in demand. Wayfair product roundup
• Negative Sentiment: Trademark lawsuit headline: A report that Wayfair faces a trademark lawsuit introduces a legal overhang. The available headline does not disclose the claims, potential damages or litigation stage, so the direct financial risk cannot yet be assessed. Wayfair trademark lawsuit article

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.