Wayfair (NYSE:W) Earns Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Wayfair (NYSE:W) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wayfair from $87.00 to $70.00 and set a buy rating for the company in a research report on Friday, August 2nd. Gordon Haskett downgraded shares of Wayfair from a buy rating to a hold rating in a research report on Thursday, August 1st. Bank of America cut Wayfair from a buy rating to a neutral rating and decreased their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. The Goldman Sachs Group decreased their price target on Wayfair from $67.00 to $54.00 and set a neutral rating for the company in a report on Friday, August 2nd. Finally, StockNews.com upgraded Wayfair from a sell rating to a hold rating in a report on Monday, August 5th. Twelve research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $65.83.

Wayfair Price Performance

NYSE W opened at $56.76 on Thursday. Wayfair has a 12 month low of $38.02 and a 12 month high of $76.18. The company has a 50-day moving average of $46.51 and a 200-day moving average of $54.61. The company has a market cap of $6.83 billion, a P/E ratio of -10.59 and a beta of 3.40.

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 firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.27) earnings per share. As a group, equities research analysts anticipate that Wayfair will post -2.66 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total value of $336,152.50. Following the sale, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total value of $336,152.50. Following the sale, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Fiona Tan sold 8,036 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the completion of the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,113 shares of company stock valued at $2,126,623. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of W. Riverview Trust Co bought a new position in Wayfair during the first quarter valued at about $27,000. ORG Partners LLC bought a new position in Wayfair during the first quarter valued at about $37,000. International Assets Investment Management LLC bought a new position in Wayfair during the second quarter valued at about $58,000. Comerica Bank boosted its stake in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Wayfair by 39.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.