Wayfair (NYSE:W) Stock Rating Reaffirmed by Needham & Company LLC

Wayfair (NYSE:W)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $75.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 17.94% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Stifel Nicolaus increased their target price on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Mizuho assumed coverage on shares of Wayfair in a research report on Tuesday, March 19th. They set a “buy” rating and a $72.00 target price for the company. Finally, Loop Capital increased their target price on shares of Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.45.

Wayfair Price Performance

Shares of W stock traded up $4.95 during trading hours on Thursday, reaching $63.59. 8,825,370 shares of the stock were exchanged, compared to its average volume of 4,777,874. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71. The company’s 50-day moving average price is $59.92 and its 200-day moving average price is $55.16.

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

Insider Buying and Selling

In other news, insider Jon Blotner sold 4,144 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the transaction, the insider now directly owns 37,957 shares in the company, valued at approximately $2,297,157.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Wayfair news, insider Jon Blotner sold 4,144 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the transaction, the chief executive officer now directly owns 239,137 shares in the company, valued at $15,443,467.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,156 shares of company stock valued at $5,465,688. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares in the last quarter. Norges Bank acquired a new stake in shares of Wayfair during the 4th quarter valued at $47,374,000. AQR Capital Management LLC grew its holdings in shares of Wayfair by 422.6% during the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock valued at $30,979,000 after acquiring an additional 413,592 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Wayfair during the fourth quarter worth $23,552,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.