Wayfair (NYSE:W) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Wayfair (NYSE:W) had its target price raised by Needham & Company LLC from $133.00 to $145.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s target price would suggest a potential upside of 18.06% from the stock’s previous close.

Several other equities analysts have also recently weighed in on W. Rosenblatt Securities began coverage on Wayfair in a research note on Thursday, August 20th. They set a “buy” rating and a $125.00 price objective on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of Wayfair in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $120.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Piper Sandler raised their price target on shares of Wayfair from $133.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Wayfair in a report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.58.

Wayfair Stock Up 10.3%

Shares of Wayfair stock opened at $122.82 on Thursday. The company has a market cap of $16.21 billion, a PE ratio of -49.93, a price-to-earnings-growth ratio of 3.84 and a beta of 3.10. Wayfair has a 52 week low of $55.60 and a 52 week high of $127.99. The business has a 50 day moving average price of $105.55 and a 200-day moving average price of $89.17.

Wayfair (NYSE:W) last posted its earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. As a group, research analysts anticipate that Wayfair will post 0.97 EPS for the current year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 500 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the completion of the transaction, the insider owned 115,385 shares in the company, valued at $13,846,200. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the sale, the chief executive officer directly owned 105,137 shares of the company’s stock, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 677,070 shares of company stock valued at $72,236,934. 18.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC grew its position in Wayfair by 451.2% during the third quarter. Lido Advisors LLC now owns 16,226 shares of the company’s stock valued at $1,664,000 after buying an additional 13,282 shares during the period. AlphaCore Capital LLC purchased a new stake in Wayfair during the third quarter worth about $622,000. Fulcrum Asset Management LLP bought a new stake in Wayfair in the third quarter worth about $6,092,000. Bryn Mawr Trust Advisors LLC bought a new stake in Wayfair in the third quarter worth about $226,000. Finally, Brighton Jones LLC boosted its stake in Wayfair by 106.3% in the third quarter. Brighton Jones LLC now owns 19,822 shares of the company’s stock valued at $2,033,000 after acquiring an additional 10,213 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year, and earnings of $0.93 per share, beating consensus estimates. U.S. revenue rose 11.4%, and reports described the quarter as the company’s strongest growth period since the pandemic, with a profit turnaround and its best margin quarter in six years. Wayfair Q3 results
• Positive Sentiment: The company expects high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin in Q4. Management also pointed to U.S. market-share gains, while an analyst argued that revenue acceleration and margin expansion could support further upside. Q4 outlook
• Positive Sentiment: Gordon Haskett upgraded Wayfair from Hold to Buy and set a $160 price target. Zacks Research also upgraded the stock from Hold to Strong Buy. Gordon Haskett rating
• Negative Sentiment: International revenue declined 2.3% year over year to $380 million, contrasting with strong U.S. growth. Wayfair Q3 results

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.