Analysts Set Wayfair Inc. (NYSE:W) PT at $67.00

Wayfair Inc. (NYSE:W) has been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $65.63.

A number of research analysts recently weighed in on W shares. Deutsche Bank Aktiengesellschaft reduced their target price on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Raymond James decreased their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd.

Insider Activity at Wayfair

In related news, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the transaction, the insider now owns 219,073 shares in the company, valued at approximately $12,441,155.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,102 shares of company stock worth $2,644,559. 26.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. SageView Advisory Group LLC acquired a new position in shares of Wayfair during the first quarter worth approximately $937,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Wayfair by 250.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after buying an additional 119,415 shares during the last quarter. Sei Investments Co. boosted its holdings in Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after acquiring an additional 12,809 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Wayfair during the 1st quarter worth approximately $9,000,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of Wayfair stock opened at $44.29 on Friday. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The business has a 50 day moving average price of $50.58 and a 200 day moving average price of $56.35. The company has a market capitalization of $5.33 billion, a P/E ratio of -8.26 and a beta of 3.43.

Wayfair (NYSE:W) last released its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the firm earned ($1.27) EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Wayfair will post -2.8 EPS for the current fiscal year.

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.