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

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are presently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $60.28.

A number of research firms have recently weighed in on W. Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus dropped their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Citigroup cut their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. Finally, Truist Financial decreased their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Wayfair Price Performance

Shares of W opened at $44.75 on Thursday. The firm has a market cap of $5.61 billion, a P/E ratio of -9.97 and a beta of 3.44. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The stock has a 50 day simple moving average of $45.75 and a two-hundred day simple moving average of $48.34.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.38) EPS. On average, equities analysts anticipate that Wayfair will post -2.91 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,896 shares of company stock worth $6,241,909. Corporate insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP increased its position in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after buying an additional 35,268 shares during the period. Southpoint Capital Advisors LP bought a new position in shares of Wayfair in the third quarter worth about $78,652,000. Finally, Holocene Advisors LP grew its stake in shares of Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after acquiring an additional 1,213,896 shares during the period. 89.67% of the stock is currently owned by institutional investors.

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.