Wayfair (NYSE:W) Shares Gap Up – What’s Next?

Wayfair Inc. (NYSE:W) gapped up prior to trading on Monday . The stock had previously closed at $32.79, but opened at $38.19. Wayfair shares last traded at $39.71, with a volume of 2,636,030 shares.

Analyst Ratings Changes

A number of research firms have recently commented on W. Citigroup boosted their price target on shares of Wayfair from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Evercore ISI upped their price target on shares of Wayfair from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Guggenheim decreased their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.46.

Wayfair Stock Up 20.6%

The firm’s 50-day simple moving average is $30.64 and its 200-day simple moving average is $40.10. The firm has a market capitalization of $5.02 billion, a PE ratio of -9.86 and a beta of 2.93.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.32) earnings per share. On average, equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 $25,901,852.09. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This trade represents a 17.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,915 shares of company stock worth $3,389,028. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $6,799,000. Sterling Capital Management LLC increased its position in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock valued at $250,000 after acquiring an additional 2,116 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $229,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.