Wayfair (NYSE:W) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Wayfair (NYSE:W) in a report issued on Friday, Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

Other equities research analysts have also issued reports about the company. TD Cowen boosted their price objective on Wayfair from $50.00 to $55.00 and gave the stock a hold rating in a research note on Wednesday, April 24th. Stifel Nicolaus lifted their target price on shares of Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. Loop Capital raised their price target on shares of Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. Canaccord Genuity Group reissued a buy rating and issued a $80.00 target price on shares of Wayfair in a research note on Friday, February 23rd. Finally, Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price objective on the stock in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $77.14.

Wayfair Stock Up 8.4 %

W stock opened at $63.59 on Friday. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71. The company’s 50-day simple moving average is $59.92 and its 200-day simple moving average is $55.29. The firm has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, analysts anticipate that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Fiona Tan sold 5,315 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jon Blotner sold 4,144 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the transaction, the chief technology officer now directly owns 51,095 shares in the company, valued at $3,222,050.70. The disclosure for this sale can be found here. Insiders sold 86,664 shares of company stock valued at $5,289,900 in the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Wayfair by 31.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after acquiring an additional 94,540 shares during the period. Federated Hermes Inc. acquired a new position in shares of Wayfair in the third quarter valued at approximately $1,147,000. Vanguard Group Inc. raised its stake in shares of Wayfair by 5.2% during 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 last quarter. Canada Pension Plan Investment Board lifted its holdings 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 period. Finally, Charles Schwab Investment Management Inc. grew its position in Wayfair by 88.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock valued at $38,438,000 after buying an additional 297,235 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.