Wayfair Inc. (NYSE:W) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Wayfair Inc. (NYSE:W) have been assigned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $77.29.

Several research analysts recently issued reports on the company. StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Citigroup lifted their target price on Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Wayfair in a research report on Thursday, May 2nd. Truist Financial boosted their price objective on Wayfair from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Sanford C. Bernstein boosted their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 8,300 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.31, for a total transaction of $434,173.00. Following the completion of the transaction, the insider now owns 259,073 shares of the company’s stock, valued at approximately $13,552,108.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Wayfair news, insider Steven Conine sold 8,300 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.31, for a total transaction of $434,173.00. Following the sale, the insider now directly owns 259,073 shares in the company, valued at approximately $13,552,108.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 3,282 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the completion of the transaction, the insider now owns 48,322 shares in the company, valued at $3,049,118.20. The disclosure for this sale can be found here. Insiders sold a total of 86,664 shares of company stock valued at $5,289,900 in the last 90 days. Corporate insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several large investors have recently made changes to their positions in the company. Capital World Investors increased its stake in Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after acquiring an additional 962,307 shares during the last quarter. Norges Bank bought a new stake in Wayfair during the fourth quarter worth approximately $47,374,000. AQR Capital Management LLC increased its stake in Wayfair by 422.6% during the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after acquiring an additional 413,592 shares during the last quarter. Vanguard Group Inc. increased its stake in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in Wayfair during the fourth quarter worth approximately $23,552,000. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Up 1.7 %

NYSE:W opened at $69.57 on Wednesday. The stock’s 50-day simple moving average is $60.49 and its 200 day simple moving average is $55.64. Wayfair has a twelve month low of $33.85 and a twelve month high of $90.71. The firm has a market capitalization of $8.37 billion, a PE ratio of -12.98 and a beta of 3.32.

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