Sanford C. Bernstein Raises Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price hoisted by Sanford C. Bernstein from $50.00 to $55.00 in a report published on Friday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities research analysts have also weighed in on W. Barclays decreased their target price on Wayfair from $85.00 to $60.00 and set an equal weight rating for the company in a research report on Thursday, January 4th. BMO Capital Markets upped their price objective on shares of Wayfair from $57.00 to $61.00 and gave the stock a market perform rating in a research note on Friday. Royal Bank of Canada cut their target price on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating on the stock in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Loop Capital lifted their price objective on shares of Wayfair from $55.00 to $65.00 and gave the company a hold rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $77.14.

Wayfair Price Performance

Shares of W opened at $63.59 on Friday. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -11.86 and a beta of 3.32. The company has a 50-day moving average of $59.92 and a 200 day moving average of $55.29. Wayfair has a 1-year low of $33.85 and a 1-year high of $90.71.

Wayfair (NYSE:W) last posted its quarterly 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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. On average, equities analysts anticipate that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 3,395 shares of Wayfair stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $65.04, for a total transaction of $220,810.80. Following the completion of the sale, the chief financial officer now owns 82,560 shares of the company’s stock, valued at $5,369,702.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kate Gulliver sold 3,395 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total value of $220,810.80. Following the sale, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 in the last ninety days. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp grew its position in Wayfair by 4.3% during the third quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock valued at $318,000 after buying an additional 219 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Wayfair by 4.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock valued at $409,000 after acquiring an additional 276 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Wayfair by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after purchasing an additional 360 shares in the last quarter. Amalgamated Bank raised its holdings in Wayfair by 2.8% in the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after purchasing an additional 397 shares during the period. Finally, Riverview Trust Co purchased a new position in Wayfair during the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.