Wayfair Inc. (NYSE:W) Receives $56.81 Consensus Target Price from Brokerages

Wayfair Inc. (NYSE:W) has received a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.81.

A number of research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Wayfair in a research note on Friday, February 21st. Canaccord Genuity Group lowered their target price on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Wedbush restated a “neutral” rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Monday, March 10th. Finally, Truist Financial cut their target price on Wayfair from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, February 21st.

Wayfair Stock Up 5.5 %

Shares of Wayfair stock opened at $33.70 on Friday. The company has a market cap of $4.28 billion, a PE ratio of -8.38 and a beta of 3.44. The business has a 50 day moving average of $40.41 and a 200 day moving average of $45.01. Wayfair has a 52 week low of $29.68 and a 52 week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, research analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, CFO Kate Gulliver sold 5,974 shares of Wayfair stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the transaction, the chief financial officer now directly owns 129,964 shares of the company’s stock, valued at $5,841,881.80. The trade was a 4.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 4,521 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the sale, the insider now directly owns 63,568 shares of the company’s stock, valued at $2,980,067.84. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,577 shares of company stock worth $6,792,672 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. J.Safra Asset Management Corp boosted its stake in 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 purchasing an additional 244 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after acquiring an additional 381 shares during the last quarter. California State Teachers Retirement System grew its stake in Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after acquiring an additional 383 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Hedge funds and other 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.