Wayfair (NYSE:W) PT Raised to $55.00

Wayfair (NYSE:W) had its price target lifted by TD Cowen from $50.00 to $55.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 7.95% from the stock’s current price.

Several other research firms have also weighed in on W. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Wayfair in a report on Thursday, February 22nd. Barclays dropped their price target on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 4th. Truist Financial dropped their price target on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Loop Capital lifted their price target on shares of Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.21.

Wayfair Price Performance

NYSE:W opened at $50.95 on Wednesday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -7.81 and a beta of 3.29. The company has a 50 day moving average price of $59.59 and a 200-day moving average price of $55.04. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, sell-side analysts anticipate that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the sale, the chief operating officer now directly owns 117,841 shares in the company, valued at approximately $7,138,807.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wayfair news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the sale, the insider now directly owns 32,118 shares in the company, valued at $1,616,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,808 shares of company stock worth $5,445,222. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. purchased a new stake in Wayfair during the first quarter worth about $10,664,000. Fifth Third Bancorp increased its stake in Wayfair by 34.4% during the first quarter. Fifth Third Bancorp now owns 6,891 shares of the company’s stock worth $468,000 after purchasing an additional 1,763 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Wayfair by 180.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,947 shares of the company’s stock worth $2,372,000 after purchasing an additional 22,473 shares during the period. Check Capital Management Inc. CA increased its stake in shares of Wayfair by 9.7% during the first quarter. Check Capital Management Inc. CA now owns 162,721 shares of the company’s stock worth $11,045,000 after buying an additional 14,417 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Wayfair by 29.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 514,441 shares of the company’s stock worth $34,920,000 after buying an additional 115,646 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.