Wayfair Inc. (NYSE:W) Stock Has Consensus Price Target of $120.61

Wayfair Inc. (NYSE:W) has earned an average recommendation of “Moderate Buy” from the thirty-two ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, eighteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $120.89.

Several research firms recently commented on W. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $120.00 price target on shares of Wayfair in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Rosenblatt Securities began coverage on shares of Wayfair in a research report on Thursday, August 20th. They set a “buy” rating and a $125.00 price objective for the company. UBS Group lifted their target price on shares of Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $108.00 price target on shares of Wayfair in a research note on Tuesday, August 4th.

Insider Activity

In other news, insider Jon Blotner sold 6,968 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total value of $698,332.96. Following the transaction, the insider directly owned 110,376 shares in the company, valued at approximately $11,061,882.72. This represents a 5.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the director owned 360,073 shares of the company’s stock, valued at $37,217,145.28. This trade represents a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 282,968 shares of company stock valued at $29,225,003 in the last quarter. Insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently modified their holdings of the stock. Capital World Investors boosted its stake in shares of Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after buying an additional 82,584 shares during the period. Janus Henderson Group PLC lifted its stake in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after acquiring an additional 296,233 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wayfair by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 1,903,219 shares of the company’s stock worth $191,145,000 after purchasing an additional 185,897 shares during the last quarter. Finally, Wolf Hill Capital Management LP lifted its position in shares of Wayfair by 62.5% during the 4th quarter. Wolf Hill Capital Management LP now owns 1,273,004 shares of the company’s stock worth $127,822,000 after purchasing an additional 489,404 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of NYSE:W opened at $101.17 on Wednesday. Wayfair has a 1 year low of $55.60 and a 1 year high of $119.98. The firm has a market capitalization of $13.35 billion, a PE ratio of -41.12, a P/E/G ratio of 3.64 and a beta of 3.02. The business’s 50 day moving average price is $100.78 and its 200-day moving average price is $85.49.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, analysts expect that Wayfair will post 0.93 earnings per share for the current year.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.