Wayfair (NYSE:W) Reaches New 52-Week High – Should You Buy?

Shares of Wayfair Inc. (NYSE:W) reached a new 52-week high on Thursday. The company traded as high as $120.77 and last traded at $119.95, with a volume of 834,441 shares changing hands. The stock had previously closed at $114.02.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on W. Evercore reissued an “outperform” rating and set a $130.00 target price on shares of Wayfair in a research note on Wednesday, August 5th. Citigroup lifted their price objective on shares of Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Guggenheim upped their price objective on Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a research note on Monday, September 14th. Finally, BMO Capital Markets upped their target price on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.04.

Wayfair Stock Up 5.6%

The business’s 50-day simple moving average is $104.28 and its two-hundred day simple moving average is $89.16. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of -48.86, a P/E/G ratio of 4.04 and a beta of 3.02.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. On average, analysts expect that Wayfair Inc. will post 0.93 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total value of $920,000.00. Following the sale, the chief technology officer owned 196,698 shares of the company’s stock, valued at $22,620,270. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the chief executive officer directly owned 105,137 shares in the company, valued at approximately $11,696,491.25. The trade was a 52.67% 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. Insiders sold 676,570 shares of company stock valued at $72,176,934 in the last 90 days. Corporate insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of W. Janus Henderson Group PLC raised its holdings in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after buying an additional 296,233 shares during the period. Atreides Management LP raised its stake in shares of Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after purchasing an additional 560,133 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after purchasing an additional 328,358 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Wayfair by 42.2% in the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Wayfair by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock worth $23,377,000 after acquiring an additional 5,586 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.