Wayfair (NYSE:W) Price Target Increased to $61.00 by Analysts at BMO Capital Markets

Wayfair (NYSE:W) had its price target hoisted by BMO Capital Markets from $57.00 to $61.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other brokerages have also recently issued reports on W. Truist Financial upped their price objective on Wayfair from $63.00 to $70.00 and gave the stock a buy rating in a report on Friday. Barclays decreased their price objective on Wayfair from $85.00 to $60.00 and set an equal weight rating on the stock in a research report on Thursday, January 4th. Loop Capital boosted their target price on Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, April 2nd. Wedbush reaffirmed an outperform rating and set a $70.00 price objective on shares of Wayfair in a research note on Friday. Finally, Royal Bank of Canada lowered their target price on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $77.29.

Wayfair Stock Up 7.7 %

Shares of NYSE:W opened at $68.49 on Friday. Wayfair has a twelve month low of $33.85 and a twelve month high of $90.71. The firm’s 50 day moving average price is $60.24 and its 200-day moving average price is $55.46. The stock has a market capitalization of $8.24 billion, a PE ratio of -12.78 and a beta of 3.32.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Analysts expect that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, CFO Kate Gulliver sold 3,395 shares of the company’s stock in a transaction on 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 in the company, valued at $5,369,702.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kate Gulliver sold 3,395 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total transaction of $220,810.80. Following the transaction, the chief financial officer now directly owns 82,560 shares of the company’s stock, valued at $5,369,702.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Blotner sold 4,144 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.52, for a total transaction of $250,794.88. Following the transaction, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,664 shares of company stock worth $5,289,900. Corporate insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of W. Capital World Investors grew its position in Wayfair by 8.7% in the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Wayfair by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after acquiring an additional 273,652 shares during the period. Atreides Management LP lifted its position in Wayfair by 1.8% in the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after purchasing an additional 16,932 shares during the period. Norges Bank acquired a new position in shares of Wayfair during the 4th quarter valued at $47,374,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Wayfair by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after buying an additional 119,873 shares during the period. Institutional investors 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.