Wells Fargo & Company Forecasts Strong Price Appreciation for Wayfair (NYSE:W) Stock

Wayfair (NYSE:W) had its price objective upped by equities researchers at Wells Fargo & Company from $130.00 to $140.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 24.91% from the stock’s previous close.

Several other equities analysts have also commented on W. Zacks Research raised shares of Wayfair from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Wayfair in a research report on Tuesday, September 1st. Raymond James Financial reissued a “strong-buy” rating and issued a $135.00 price target on shares of Wayfair in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $120.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Wedbush raised their price objective on Wayfair from $125.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.57.

Wayfair Trading Down 1.1%

Shares of NYSE W traded down $1.30 during mid-day trading on Thursday, hitting $112.08. The company had a trading volume of 1,644,054 shares, compared to its average volume of 2,011,016. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of -89.67, a P/E/G ratio of 4.07 and a beta of 3.10. Wayfair has a 1 year low of $55.60 and a 1 year high of $127.99. The stock’s 50-day moving average price is $105.88 and its 200-day moving average price is $89.19.

Wayfair (NYSE:W) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. The company had revenue of $3.42 billion during 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 firm’s quarterly revenue 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, equities research analysts forecast that Wayfair will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 117,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the chief executive officer owned 105,137 shares in the company, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Fiona Tan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total transaction of $920,000.00. Following the sale, the chief technology officer directly owned 196,698 shares in the company, valued at $22,620,270. The trade was a 3.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 692,070 shares of company stock worth $74,096,044. Company insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of W. Heritage Family Offices LLP purchased a new stake in Wayfair during the 3rd quarter valued at $45,000. Fortitude Family Office LLC boosted its stake in shares of Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after buying an additional 272 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Wayfair in the 3rd quarter worth $53,000. Reyes Financial Architecture Inc. bought a new stake in shares of Wayfair in the third quarter worth $82,000. Finally, IFP Advisors Inc grew its holdings in shares of Wayfair by 79.2% in the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after acquiring an additional 358 shares during the period. 89.67% of the stock is owned by institutional investors.

Trending Headlines about Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

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.