Wayfair Inc. (NYSE:W) Receives $78.50 Consensus PT from Brokerages

Shares of Wayfair Inc. (NYSE:W) have received a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $78.50.

A number of equities research analysts recently weighed in on W shares. Deutsche Bank Aktiengesellschaft raised their price target on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho started coverage on Wayfair in a report on Tuesday, March 19th. They set a “buy” rating and a $72.00 price target for the company. StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a report on Sunday, June 23rd. Royal Bank of Canada raised their price target on Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. Finally, TD Cowen raised their price target on Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a report on Friday, May 3rd.

Wayfair Trading Up 0.9 %

Shares of W stock opened at $52.73 on Thursday. The stock has a 50 day moving average of $58.89 and a two-hundred day moving average of $58.55. Wayfair has a 12 month low of $38.37 and a 12 month high of $90.71. The company has a market capitalization of $6.35 billion, a P/E ratio of -9.84 and a beta of 3.39.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. Sell-side analysts predict that Wayfair will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the insider now owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Wayfair news, COO Thomas Netzer sold 3,339 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.03, for a total transaction of $210,457.17. Following the transaction, the chief operating officer now owns 143,097 shares of the company’s stock, valued at $9,019,403.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the insider now directly owns 219,073 shares in the company, valued at approximately $12,441,155.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,680 shares of company stock valued at $4,164,783. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently made changes to their positions in the company. Boston Partners bought a new stake in shares of Wayfair during the first quarter worth approximately $769,000. Virtu Financial LLC bought a new stake in shares of Wayfair in the first quarter valued at approximately $1,548,000. WealthPlan Investment Management LLC boosted its stake in shares of Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after buying an additional 271 shares during the period. Comerica Bank boosted its stake in shares of Wayfair by 210.9% in the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Wayfair in the first quarter valued at approximately $3,172,000. Institutional investors own 89.67% of the company’s stock.

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.