Wayfair Inc. (NYSE:W) Receives $119.89 Average Price Target from Brokerages

Wayfair Inc. (NYSE:W) has been given an average rating of “Moderate Buy” by the thirty-two analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $119.8929.

Several brokerages recently issued reports on W. Evercore restated an “outperform” rating and issued a $130.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Truist Financial boosted their target price on shares of Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Citigroup increased their price target on Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, August 13th. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a research note on Wednesday, August 5th. Finally, UBS Group lifted their price objective on Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th.

Wayfair Price Performance

Wayfair stock opened at $99.46 on Friday. Wayfair has a one year low of $55.60 and a one year high of $119.98. The stock has a market capitalization of $13.13 billion, a PE ratio of -40.43, a price-to-earnings-growth ratio of 3.57 and a beta of 2.99. The business’s fifty day moving average is $96.26 and its 200 day moving average is $82.26.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the firm posted $0.87 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Wayfair will post 0.93 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, Director Steven Conine sold 69,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the director directly owned 360,073 shares in the company, valued at $37,217,145.28. This trade represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 143,925 shares of company stock worth $14,834,198 in the last 90 days. 18.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently made changes to their positions in the business. North Dakota State Investment Board bought a new position in Wayfair in the 4th quarter worth approximately $3,636,000. Assenagon Asset Management S.A. grew its holdings in Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after buying an additional 242,791 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $5,648,000. Dockside LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $1,990,000. Finally, Legato Capital Management LLC purchased a new position in shares of Wayfair in the fourth quarter worth $1,327,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.