Wayfair (NYSE:W) Price Target Raised to $55.00

Wayfair (NYSE:W) had its price objective raised by equities research analysts at TD Cowen from $50.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 3.05% from the company’s current price.

W has been the topic of several other reports. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of Wayfair in a research note on Monday, March 25th. Finally, Evercore ISI raised Wayfair from an “in-line” rating to an “outperform” rating and upped their target price for the company from $65.00 to $80.00 in a research report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.21.

Wayfair Stock Down 7.6 %

Shares of NYSE W traded down $4.38 during midday trading on Wednesday, hitting $53.37. The stock had a trading volume of 3,797,079 shares, compared to its average volume of 4,255,169. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -8.19 and a beta of 3.29. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71. The company has a fifty day moving average price of $59.60 and a 200 day moving average price of $55.08.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, research analysts forecast that Wayfair will post -3.37 EPS for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The disclosure for this sale can be found here. Insiders have sold 89,808 shares of company stock valued at $5,445,222 over the last three months. Company insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently modified their holdings of W. Riverview Trust Co bought a new position in shares of Wayfair in the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair during the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new position in Wayfair during the fourth quarter valued at about $31,000. BluePath Capital Management LLC acquired a new position in shares of Wayfair in the third quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Wayfair in the third quarter worth $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.