Wayfair Inc. (NYSE:W) Receives $43.83 Average Price Target from Brokerages

Shares of Wayfair Inc. (NYSE:W) have been given a consensus recommendation of “Moderate Buy” by the twenty-five ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $43.83.

W has been the subject of a number of research reports. Bank of America upped their price objective on Wayfair from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Canaccord Genuity Group cut their price objective on Wayfair from $68.00 to $58.00 and set a “buy” rating for the company in a report on Monday, April 28th. BMO Capital Markets set a $38.00 price objective on Wayfair in a report on Friday, May 2nd. Evercore ISI upped their price objective on Wayfair from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group cut their price objective on Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd.

Wayfair Stock Down 0.5%

Wayfair stock opened at $36.22 on Friday. Wayfair has a 52 week low of $20.41 and a 52 week high of $63.30. The business has a 50-day simple moving average of $31.55 and a 200 day simple moving average of $39.86. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -9.01 and a beta of 2.93.

Wayfair (NYSE:W) last posted its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. Wayfair’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 2,258 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total transaction of $90,342.58. Following the completion of the transaction, the chief executive officer now owns 541,627 shares of the company’s stock, valued at $21,670,496.27. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 4,861 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.12, for a total value of $195,023.32. Following the transaction, the insider now directly owns 544,414 shares of the company’s stock, valued at $21,841,889.68. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,330 shares of company stock valued at $3,377,506 in the last 90 days. Insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in W. True Wealth Design LLC raised its position in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp raised its position in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Wayfair in the 4th quarter worth approximately $41,000. Finally, GAMMA Investing LLC grew its stake in shares of Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after buying an additional 609 shares during the last quarter. 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.