Wayfair (NYSE:W) Price Target Raised to $135.00

Wayfair (NYSE:W) had its price objective upped by Argus from $125.00 to $135.00 in a research report released on Thursday morning, MarketBeat Ratings reports. Argus currently has a buy rating on the stock.

A number of other analysts have also commented on the stock. Truist Financial upped their price objective on shares of Wayfair from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Royal Bank Of Canada boosted their price target on shares of Wayfair from $96.00 to $128.00 and gave the company a “sector perform” rating in a report on Thursday, November 5th. TD Cowen upped their price target on shares of Wayfair from $110.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday, November 5th. UBS Group upped their price target on shares of Wayfair from $156.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, Needham & Company LLC raised their price objective on shares of Wayfair from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.68.

Wayfair Trading Up 0.1%

Shares of NYSE W traded up $0.13 during mid-day trading on Thursday, reaching $111.61. The company had a trading volume of 1,014,734 shares, compared to its average volume of 2,203,993. The company has a 50-day moving average price of $107.45 and a two-hundred day moving average price of $89.27. The stock has a market cap of $14.73 billion, a PE ratio of -89.29, a P/E/G ratio of 4.35 and a beta of 3.10. Wayfair has a 1-year low of $55.60 and a 1-year high of $127.99.

Wayfair (NYSE:W) last announced its earnings results on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Wayfair’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that Wayfair will post 1.12 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CEO Niraj Shah sold 117,000 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the sale, the chief executive officer directly owned 105,137 shares in the company, valued at $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the transaction, the director owned 105,073 shares of the company’s stock, valued at $11,689,371.25. This represents a 52.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 554,070 shares of company stock valued at $59,832,364. Corporate insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds have recently bought and sold shares of W. Resona Asset Management Co. Ltd. bought a new position in Wayfair during the 3rd quarter worth about $34,000. Heritage Family Offices LLP bought a new stake in shares of Wayfair in the third quarter valued at about $45,000. Fortitude Family Office LLC boosted its position in shares of Wayfair by 144.7% during the third quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after buying an additional 272 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Wayfair during the third quarter worth about $53,000. Finally, IFP Advisors Inc boosted its position in shares of Wayfair by 79.2% during the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after buying an additional 358 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc. is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares. The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets. Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.