Wayfair (NYSE:W) Shares Gap Up – Still a Buy?

Wayfair Inc. (NYSE:W) gapped up before the market opened on Friday . The stock had previously closed at $33.10, but opened at $34.41. Wayfair shares last traded at $35.00, with a volume of 467,605 shares traded.

Wall Street Analysts Forecast Growth

W has been the subject of a number of research reports. Stifel Nicolaus cut their price target on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Wedbush reissued a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. Royal Bank of Canada cut their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Wayfair in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.69.

Wayfair Price Performance

The stock’s 50-day moving average is $44.78 and its two-hundred day moving average is $46.28. The company has a market cap of $4.24 billion, a P/E ratio of -8.37 and a beta of 3.44.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the transaction, the insider now directly owns 57,899 shares of the company’s stock, valued at $2,479,814.17. The trade was a 8.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,228 shares of company stock valued at $6,235,818. Insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. True Wealth Design LLC increased its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the period. Jones Financial Companies Lllp grew its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Wayfair during the 3rd quarter valued at approximately $29,000. Finally, GAMMA Investing LLC lifted its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

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.