Wayfair (NYSE:W) Price Target Raised to $43.00 at Bank of America

Wayfair (NYSE:W) had its target price upped by Bank of America from $36.00 to $43.00 in a report issued on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $25.00 price objective on shares of Wayfair in a report on Friday, April 25th. Loop Capital restated a “sell” rating and set a $35.00 target price on shares of Wayfair in a report on Wednesday. Guggenheim dropped their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has an average rating of “Hold” and a consensus price target of $43.83.

Wayfair Stock Performance

Shares of Wayfair stock opened at $38.12 on Wednesday. The firm has a market cap of $4.84 billion, a PE ratio of -9.48 and a beta of 2.93. The business’s 50 day simple moving average is $30.92 and its 200 day simple moving average is $40.05. Wayfair has a 52-week low of $20.41 and a 52-week high of $74.49.

Wayfair (NYSE:W) last released its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business posted ($0.32) EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts predict that Wayfair will post -2.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at approximately $25,901,852.09. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 9,527 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $40.04, for a total value of $381,461.08. Following the sale, the chief executive officer now directly owns 549,610 shares in the company, valued at $22,006,384.40. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,240 shares of company stock worth $4,162,605 in the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

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