Wayfair Inc. (NYSE:W) Receives $65.63 Average PT from Brokerages

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

W has been the topic of a number of recent research reports. Gordon Haskett lowered Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada cut their price objective on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Piper Sandler cut their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup decreased their price objective on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Wayfair Trading Up 1.4 %

W opened at $48.03 on Tuesday. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -8.96 and a beta of 3.40. The company’s fifty day moving average price is $46.68 and its two-hundred day moving average price is $55.03.

Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company 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 earned ($1.27) EPS. Wayfair’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Wayfair will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, July 8th. The shares were sold at an average price of $52.62, for a total value of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares of the company’s stock, valued at approximately $11,004,788.94. The disclosure for this sale can be found here. Insiders sold 40,102 shares of company stock valued at $2,076,659 over the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its stake in Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after purchasing an additional 962,307 shares during the last quarter. Norges Bank bought a new stake in Wayfair in the 4th quarter worth approximately $47,374,000. Renaissance Technologies LLC boosted its stake in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP grew its position in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Wayfair during the fourth quarter worth approximately $23,552,000. 89.67% of the stock is currently owned by institutional investors.

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.