Wayfair Inc. (NYSE:W) Receives $60.24 Consensus Price Target from Analysts

Shares of Wayfair Inc. (NYSE:W) have been given an average recommendation of “Moderate Buy” by the twenty-six brokerages that are covering the stock, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $60.24.

A number of research analysts have commented on the company. UBS Group reduced their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial decreased their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler dropped their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Citigroup decreased their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 5,669 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,150 shares of company stock valued at $6,250,114 over the last quarter. Insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares during the period. Wolf Hill Capital Management LP grew its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Wayfair by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in Wayfair during the third quarter valued at about $78,652,000. Finally, Holocene Advisors LP lifted its position in shares of Wayfair by 5,699.8% in the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after buying an additional 1,213,896 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Performance

NYSE W opened at $45.02 on Monday. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -10.03 and a beta of 3.43. Wayfair has a one year low of $37.35 and a one year high of $76.18. The company’s 50 day moving average price is $45.67 and its 200 day moving average price is $47.35.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business posted ($1.38) EPS. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Wayfair will post -2.91 EPS for the current fiscal year.

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.