Wayfair Inc. (NYSE:W) Receives $65.63 Consensus Price Target from Analysts

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the twenty-five analysts that are covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $65.63.

Several research analysts recently issued reports on W shares. Royal Bank of Canada cut 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. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Raymond James reduced their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd.

Wayfair Trading Up 0.2 %

Shares of NYSE W opened at $44.78 on Tuesday. The stock has a market cap of $5.53 billion, a P/E ratio of -8.35 and a beta of 3.41. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18. The stock has a 50 day moving average of $46.86 and a two-hundred day moving average of $55.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company posted ($1.27) EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts predict that Wayfair will post -2.66 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at approximately $2,463,809.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at $3,244,707.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,102 shares of company stock valued at $2,076,659. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Truist Financial Corp acquired a new position in shares of Wayfair in the 4th quarter valued at about $504,000. Victory Capital Management Inc. boosted its stake in Wayfair by 1,323.1% in the fourth quarter. Victory Capital Management Inc. now owns 127,044 shares of the company’s stock valued at $7,839,000 after acquiring an additional 118,117 shares during the period. Amalgamated Bank grew its holdings in shares of Wayfair by 2.8% during the fourth quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock valued at $903,000 after purchasing an additional 397 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Wayfair by 9.7% during the fourth quarter. National Bank of Canada FI now owns 44,926 shares of the company’s stock valued at $2,641,000 after purchasing an additional 3,973 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Wayfair by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,156 shares of the company’s stock worth $41,595,000 after purchasing an additional 39,545 shares during the period. Institutional investors own 89.67% of the company’s stock.

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.