Wayfair (NYSE:W) Price Target Raised to $92.00

Wayfair (NYSE:W) had its price target upped by Royal Bank Of Canada from $78.00 to $92.00 in a report issued on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group reduced their price objective on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company increased their target price on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Citigroup reduced their price target on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Guggenheim upped their price objective on Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.04.

Wayfair Price Performance

W stock opened at $106.91 on Wednesday. The company has a 50 day simple moving average of $87.39 and a 200 day simple moving average of $81.99. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of -43.46, a P/E/G ratio of 5.60 and a beta of 2.99. Wayfair has a 1 year low of $55.60 and a 1 year high of $119.98.

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, topping the consensus estimate 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 company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Wayfair will post 0.62 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This trade represents a 4.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. Handelsbanken Fonder AB raised its position in shares of Wayfair by 10.9% during 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 lifted its stake in shares of Wayfair by 5.9% in the second quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company’s stock worth $4,193,000 after acquiring an additional 2,534 shares during the period. Assenagon Asset Management S.A. boosted its holdings in 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 acquiring an additional 242,791 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Wayfair by 34.5% in the second quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock valued at $315,000 after acquiring an additional 874 shares during the last quarter. Finally, Empowered Funds LLC increased its position 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 during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Key Headlines Impacting Wayfair

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.