Wayfair’s (W) Buy Rating Reaffirmed at Guggenheim

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $60.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 79.89% from the company’s current price.

A number of other brokerages have also recently issued reports on W. Truist Financial reduced their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $47.00 in a report on Friday. Canaccord Genuity Group dropped their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Loop Capital decreased their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price target on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Wayfair Stock Down 4.7 %

NYSE:W traded down $1.66 during mid-day trading on Monday, hitting $33.35. 1,114,640 shares of the company traded hands, compared to its average volume of 3,849,080. The stock’s fifty day moving average price is $44.61 and its 200-day moving average price is $46.26. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -8.30 and a beta of 3.44. Wayfair has a one year low of $32.50 and a one year high of $76.18.

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

Insider Activity

In other news, insider Jon Blotner sold 4,521 shares of Wayfair stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the sale, the insider now owns 63,568 shares of the company’s stock, valued at approximately $2,980,067.84. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $52,625.35. Following the completion of the transaction, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,228 shares of company stock valued at $6,235,818. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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