Sanford C. Bernstein Boosts Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price target lifted by Sanford C. Bernstein from $50.00 to $55.00 in a research note published on Friday, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

Several other research firms have also recently commented on W. Loop Capital boosted their price target on Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. Raymond James raised Wayfair from a market perform rating to a strong-buy rating and set a $65.00 target price on the stock in a research report on Friday, February 16th. Citigroup raised their price target on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Wedbush reiterated an outperform rating and set a $70.00 price objective on shares of Wayfair in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair has an average rating of Moderate Buy and a consensus target price of $77.14.

Wayfair Trading Up 8.4 %

NYSE W opened at $63.59 on Friday. The stock has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32. The company’s fifty day simple moving average is $59.92 and its 200-day simple moving average is $55.29. Wayfair has a 52 week low of $33.85 and a 52 week high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, research analysts expect that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares in the company, valued at $6,964,665.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares in the company, valued at $6,964,665.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $59.90, for a total transaction of $599,000.00. Following the completion of the transaction, the chief executive officer now owns 249,137 shares of the company’s stock, valued at approximately $14,923,306.30. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Wayfair in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wayfair in the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new stake in Wayfair during the third quarter valued at approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Wayfair during the third quarter worth approximately $34,000. 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.