Wayfair Inc. (NYSE:W) Receives $60.24 Average PT from Analysts

Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are covering the stock, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $60.24.

Several analysts have recently commented on W shares. Piper Sandler reduced their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Citigroup dropped their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Mizuho decreased their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Finally, Robert W. Baird reduced their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,150 shares of company stock worth $6,250,114 over the last quarter. 26.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP boosted its position in shares of Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the period. Geode Capital Management LLC grew its stake in Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after acquiring an additional 35,268 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in Wayfair in the 3rd quarter valued at approximately $78,652,000. Finally, Holocene Advisors LP increased its stake in shares of Wayfair by 5,699.8% in the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after acquiring an additional 1,213,896 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Up 0.3 %

W opened at $42.83 on Monday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The business has a 50 day moving average price of $45.48 and a two-hundred day moving average price of $47.42. The company has a market cap of $5.37 billion, a PE ratio of -9.54 and a beta of 3.43.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.38) earnings per share. As a group, sell-side analysts expect that Wayfair will post -2.91 EPS for the current fiscal year.

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.