Wayfair Inc. (NYSE:W) Receives $99.89 Consensus Target Price from Analysts

Wayfair Inc. (NYSE:W) has been assigned an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $99.8929.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Jefferies Financial Group reduced their target price on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Citigroup reduced their target price on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, TD Cowen reduced their target price on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, April 30th.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,790 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the transaction, the insider owned 111,158 shares in the company, valued at $8,024,496.02. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the transaction, the director owned 436,212 shares in the company, valued at approximately $33,806,430. This trade represents a 20.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 463,785 shares of company stock worth $35,864,224. 18.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the stock. Great Lakes Advisors LLC acquired a new position in shares of Wayfair during the third quarter valued at about $3,946,000. Capital World Investors increased its holdings in shares of Wayfair by 4.1% during the third quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after acquiring an additional 521,240 shares in the last quarter. Covenant Asset Management LLC acquired a new position in shares of Wayfair during the fourth quarter valued at about $4,403,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Wayfair during the third quarter valued at about $1,107,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Wayfair during the third quarter valued at about $2,635,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

W stock opened at $69.45 on Thursday. The company has a market capitalization of $9.17 billion, a P/E ratio of -29.68, a PEG ratio of 3.80 and a beta of 3.02. The business has a 50-day moving average price of $70.89 and a 200 day moving average price of $86.96. Wayfair has a 1-year low of $42.63 and a 1-year high of $119.98.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. On average, analysts anticipate that Wayfair will post 0.63 earnings per share for the current fiscal year.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.