Wayfair (NYSE:W) Price Target Raised to $133.00

Wayfair (NYSE:W) had its price target increased by Needham & Company LLC from $83.00 to $133.00 in a report published on Wednesday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also commented on W. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company reduced their target price on Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Mizuho decreased their target price on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. UBS Group raised their target price on Wayfair from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, TD Cowen lifted their price target on Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $118.04.

Wayfair Trading Up 2.7%

Shares of Wayfair stock opened at $106.91 on Wednesday. Wayfair has a 12-month low of $55.60 and a 12-month high of $119.98. The company has a market cap of $14.11 billion, a P/E ratio of -43.46, a PEG ratio of 5.60 and a beta of 2.99. The company’s fifty day simple moving average is $87.39 and its two-hundred day simple moving average is $81.99.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. Analysts predict that Wayfair will post 0.62 EPS for the current fiscal year.

Insider Activity

In other news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in shares of Wayfair by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company’s stock worth $3,188,000 after acquiring an additional 3,400 shares during the last quarter. Chemistry Wealth Management LLC raised its position in shares of Wayfair by 5.9% in the 2nd quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company’s stock worth $4,193,000 after purchasing an additional 2,534 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after purchasing an additional 242,791 shares in the last quarter. Versant Capital Management Inc increased its stake in Wayfair by 34.5% during the 2nd quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock valued at $315,000 after purchasing an additional 874 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Wayfair by 67.7% during the 1st quarter. Empowered Funds LLC now owns 6,829 shares of the company’s stock valued at $514,000 after purchasing an additional 2,758 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Key Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Analyst optimism increased. BMO, UBS and Wedbush issued positive forecasts, while Needham raised its price target to $133 and Wells Fargo lifted its target to $130. RBC also expects further appreciation, reinforcing bullish sentiment after the earnings report. BMO Capital Markets Forecasts Strong Price Appreciation for Wayfair Needham Raises Wayfair Price Target Wells Fargo Boosts Wayfair Price Target
• Positive Sentiment: Better-than-expected Q2 results remain the primary catalyst. Wayfair reported adjusted EPS of $0.95 versus a $0.90 consensus estimate and revenue of $3.52 billion versus expectations of $3.47 billion. Revenue increased 7.5% year over year, raising investor expectations that sustained growth and cost controls could move the company closer to consistent profitability. Wayfair Shares Gap Up on Earnings Beat Wayfair Q2 Results Beat Forecasts
• Positive Sentiment: Expansion into physical retail could broaden customer reach. Wayfair plans to open outlet stores in Dublin, Ohio, and North Hills, Pennsylvania, giving the online furniture retailer additional channels to sell inventory and attract shoppers. Wayfair Outlet to Open in Dublin Wayfair Opening North Hills Store
• Neutral Sentiment: Reports indicate affluent consumers are supporting Wayfair’s profit gains despite economic uncertainty, while the company is finding growth in weaker housing markets. This supports demand resilience but may leave the business exposed if higher-income consumer spending slows. Rich Consumers Drive Wayfair Profit Gains
• Negative Sentiment: A nationwide recall involving furniture sold through Wayfair after a toddler was injured creates a potential reputational, customer-safety and liability risk, although the direct financial impact is not yet clear. Nationwide Furniture Recall

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.