Wayfair (NYSE:W) PT Raised to $58.00

Wayfair (NYSE:W) had its price target raised by TD Cowen from $55.00 to $58.00 in a report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

W has been the topic of several other research reports. Royal Bank of Canada dropped their price target on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley reiterated an overweight rating and set a $80.00 target price on shares of Wayfair in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft upped their price target on Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. StockNews.com raised Wayfair from a sell rating to a hold rating in a research report on Friday, March 29th. Finally, Truist Financial boosted their price objective on Wayfair from $63.00 to $70.00 and gave the company a buy rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $77.14.

Wayfair Stock Performance

Shares of NYSE:W opened at $63.59 on Friday. The stock’s 50-day simple moving average is $59.92 and its two-hundred day simple moving average is $55.29. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -11.86 and a beta of 3.32. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities analysts forecast that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 984 shares of Wayfair stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the transaction, the chief operating officer now owns 117,841 shares in the company, valued at approximately $7,138,807.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the transaction, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the sale, the insider now owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock worth $5,289,900 over the last ninety days. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of W. Allspring Global Investments Holdings LLC lifted its stake in shares of Wayfair by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock worth $24,606,000 after acquiring an additional 94,540 shares during the last quarter. Federated Hermes Inc. bought a new position in Wayfair in the 3rd quarter valued at $1,147,000. Vanguard Group Inc. increased its stake in Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after purchasing an additional 386,717 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Wayfair by 3,978.9% during the third quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock worth $22,235,000 after purchasing an additional 358,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Wayfair by 88.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock worth $38,438,000 after purchasing an additional 297,235 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.