Wayfair Inc. (NYSE:W) Receives $58.12 Average Price Target from Brokerages

Shares of Wayfair Inc. (NYSE:W) have been given an average rating of “Moderate Buy” by the twenty-six analysts that are currently covering the stock, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $58.12.

Several equities analysts have recently issued reports on W shares. Bank of America reduced their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Loop Capital reduced their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group reduced their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Raymond James set a $60.00 price objective on Wayfair and gave the company a “strong-buy” rating in a report on Friday, February 21st.

Wayfair Stock Down 3.5 %

Shares of Wayfair stock opened at $33.04 on Tuesday. The company has a market cap of $4.19 billion, a PE ratio of -8.22 and a beta of 3.44. Wayfair has a 52 week low of $32.50 and a 52 week high of $76.18. The business has a 50 day moving average price of $44.78 and a 200-day moving average price of $46.28.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, research analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the sale, the insider now owns 602,573 shares in the company, valued at $27,567,714.75. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,228 shares of company stock worth $6,235,818. Corporate insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Wayfair in the third quarter worth about $29,000. Finally, GAMMA Investing LLC increased its holdings in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the period. 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.