Analysts Set Wayfair Inc. (NYSE:W) Price Target at $60.24

Wayfair Inc. (NYSE:W) has earned a consensus rating of “Moderate Buy” from the twenty-six analysts that are covering the company, Marketbeat Ratings reports. Thirteen 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 12-month price target among analysts that have covered the stock in the last year is $60.24.

Several equities research analysts recently commented on W shares. Citigroup reduced their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. BMO Capital Markets reduced their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Stifel Nicolaus lowered their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, UBS Group lowered their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,228 shares of company stock worth $7,709,418. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp boosted its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the period. Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Wayfair in the third quarter valued at $29,000. GAMMA Investing LLC raised its position in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Wayfair during the third quarter worth about $44,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Trading Down 7.3 %

Shares of Wayfair stock opened at $43.93 on Friday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The stock has a market cap of $5.51 billion, a PE ratio of -9.78 and a beta of 3.43. The company’s 50-day moving average price is $47.32 and its two-hundred day moving average price is $46.75.

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.