Wayfair (NYSE:W) Shares Gap Up – What’s Next?

Wayfair Inc. (NYSE:W) shares gapped up prior to trading on Tuesday . The stock had previously closed at $44.99, but opened at $47.14. Wayfair shares last traded at $48.39, with a volume of 676,048 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on W. Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $44.00 in a research note on Monday, January 6th. Guggenheim reaffirmed a “buy” rating and issued a $70.00 target price on shares of Wayfair in a research note on Thursday, September 26th. UBS Group reduced their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Robert W. Baird lowered their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Mizuho reduced their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wayfair has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Wayfair Trading Up 9.7 %

The company has a market cap of $6.18 billion, a price-to-earnings ratio of -11.04 and a beta of 3.43. The business has a 50-day moving average price of $45.82 and a 200 day moving average price of $47.25.

Wayfair (NYSE:W) last released its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the firm earned ($1.38) EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the sale, the insider now owns 57,899 shares in the company, valued at approximately $2,479,814.17. This represents a 8.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now directly owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,150 shares of company stock valued at $6,250,114. 23.50% of the stock is owned by insiders.

Institutional Trading of Wayfair

Several institutional investors have recently made changes to their positions in W. Capital Performance Advisors LLP acquired a new position in Wayfair in the third quarter valued at about $29,000. GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair in the third quarter valued at approximately $44,000. Brooklyn Investment Group acquired a new stake in shares of Wayfair in the third quarter valued at approximately $50,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Wayfair in the 3rd quarter worth approximately $67,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.