Brokerages Set Wayfair Inc. (NYSE:W) PT at $52.00

Wayfair Inc. (NYSE:W) has been given an average rating of “Hold” by the twenty-six brokerages that are presently covering the stock, Marketbeat Ratings reports. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $50.28.

A number of equities research analysts have recently commented on W shares. Stifel Nicolaus lowered their price objective on Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Truist Financial reduced their price target on Wayfair from $53.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Raymond James set a $60.00 price objective on shares of Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Wedbush reissued a “neutral” rating and set a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut their price objective on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 23,835 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,863 shares of company stock valued at $3,393,929. 21.91% of the stock is owned by insiders.

Institutional Trading of Wayfair

Several institutional investors have recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the 4th 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 during the period. Jones Financial Companies Lllp grew its position in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC raised its stake in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of NYSE:W opened at $31.15 on Wednesday. Wayfair has a 12 month low of $20.41 and a 12 month high of $76.18. The business’s 50 day simple moving average is $31.94 and its 200-day simple moving average is $41.22. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -7.75 and a beta of 3.72.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) 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 analyst estimates of $3.07 billion. On average, equities analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

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.