Wayfair’s (W) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Wayfair (NYSE:W) in a research note released on Friday, Benzinga reports. The firm currently has a $70.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on W. Morgan Stanley reaffirmed an overweight rating and set a $80.00 price objective on shares of Wayfair in a research report on Monday, March 25th. TD Cowen upped their price objective on Wayfair from $50.00 to $55.00 and gave the stock a hold rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Wayfair from $63.00 to $79.00 and gave the company a buy rating in a research report on Wednesday, April 10th. StockNews.com raised shares of Wayfair from a sell rating to a hold rating in a report on Friday, March 29th. Finally, Barclays reduced 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $77.14.

Wayfair Price Performance

NYSE:W opened at $63.59 on Friday. The firm’s fifty day moving average price is $59.92 and its two-hundred day moving average price is $55.29. The company has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32. Wayfair has a one year low of $33.85 and a one year high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts expect that Wayfair will post -3.37 earnings per share for the current year.

Insider Activity

In other news, CEO Niraj Shah sold 1,700 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the transaction, the chief executive officer now owns 267,437 shares in the company, valued at $13,912,072.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the sale, the chief operating officer now owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 1,700 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the transaction, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The disclosure for this sale can be found here. Insiders have sold 86,664 shares of company stock valued at $5,289,900 in the last ninety days. 26.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its stake in Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after purchasing an additional 273,652 shares in the last quarter. Atreides Management LP boosted its position in shares of Wayfair by 1.8% during the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after buying an additional 16,932 shares during the last quarter. Norges Bank bought a new stake in Wayfair during the fourth quarter worth $47,374,000. Finally, Wellington Management Group LLP raised its position in Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after buying an additional 119,873 shares during the last quarter. 89.67% of the stock is 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.