Wayfair (NYSE:W) PT Raised to $65.00

Wayfair (NYSE:W) had its price objective upped by analysts at Royal Bank of Canada from $61.00 to $65.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 3.80% from the stock’s previous close.

A number of other research firms have also weighed in on W. BMO Capital Markets increased their target price on shares of Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Friday. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Friday, February 16th. Citigroup upped their price objective on shares of Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. TD Cowen upped their price target on Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 price target on shares of Wayfair in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $77.29.

Wayfair Stock Up 6.3 %

W traded up $3.98 during trading on Monday, reaching $67.57. 4,323,212 shares of the company were exchanged, compared to its average volume of 4,491,621. The company’s 50-day moving average is $59.92 and its two-hundred day moving average is $55.29. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71. The company has a market cap of $8.13 billion, a price-to-earnings ratio of -12.61 and a beta of 3.32.

Wayfair (NYSE:W) last posted 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 business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Equities analysts forecast that Wayfair will post -3.37 earnings per share for the current year.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the transaction, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kate Gulliver sold 3,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $65.04, for a total value of $220,810.80. Following the completion of the transaction, the chief financial officer now directly owns 82,560 shares of the company’s stock, valued at approximately $5,369,702.40. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock worth $5,289,900 over the last quarter. Insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several large investors have recently bought and sold shares of W. Riverview Trust Co purchased a new stake in shares of Wayfair in the first quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wayfair in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in shares of Wayfair during the 4th quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new position in shares of Wayfair in the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Wayfair during the third quarter valued at about $34,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.