Wayfair (NYSE:W) Shares Gap Up – Should You Buy?

Shares of Wayfair Inc. (NYSE:W) gapped up before the market opened on Friday . The stock had previously closed at $53.26, but opened at $56.51. Wayfair shares last traded at $54.67, with a volume of 633,601 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on W. BMO Capital Markets decreased their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Truist Financial decreased their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a research note on Monday. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Trading Up 0.6 %

The company has a 50-day moving average of $47.00 and a 200-day moving average of $49.12. The firm has a market capitalization of $6.71 billion, a P/E ratio of -12.11 and a beta of 3.44.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the firm posted ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts predict that Wayfair Inc. will post -2.91 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,868 shares of company stock worth $4,866,748 in the last quarter. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently modified their holdings of W. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wayfair in the third quarter worth $44,000. Brooklyn Investment Group bought a new position in Wayfair in the third quarter valued at $50,000. International Assets Investment Management LLC bought a new stake in Wayfair during the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in Wayfair during the third quarter worth about $67,000. 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.