Wayfair (NYSE:W) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research note released on Friday morning, Marketbeat reports. They currently have $47.00 price target on the stock, up from their previous price target of $45.00.

A number of other analysts have also issued reports on W. Bank of America lowered their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Raymond James set a $60.00 price target on shares of Wayfair and gave the stock a “strong-buy” rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. Canaccord Genuity Group cut their price target on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Wayfair in a research report on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.69.

Wayfair Stock Performance

Shares of NYSE W opened at $35.05 on Friday. Wayfair has a 52 week low of $32.50 and a 52 week high of $76.18. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -8.72 and a beta of 3.44. The business’s 50-day simple moving average is $44.61 and its 200-day simple moving average is $46.26.

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

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares of the company’s stock, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares in the company, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,228 shares of company stock worth $6,235,818 in the last three months. Insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in W. True Wealth Design LLC boosted 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 during the last quarter. J.Safra Asset Management Corp increased its position in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Wayfair during the 3rd quarter worth approximately $29,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 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.