Wayfair (NYSE:W) Price Target Raised to $30.00

Wayfair (NYSE:W) had its price target hoisted by Citigroup from $28.00 to $30.00 in a report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Loop Capital cut their price objective on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, February 21st. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Raymond James set a $60.00 price target on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday, February 21st. Sixteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wayfair has an average rating of “Hold” and a consensus price target of $50.68.

Wayfair Price Performance

Shares of W stock opened at $29.29 on Friday. Wayfair has a 1-year low of $20.41 and a 1-year high of $76.18. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -7.29 and a beta of 3.72. The stock has a 50 day simple moving average of $32.54 and a 200-day simple moving average of $41.45.

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

Insider Buying and Selling

In related news, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the transaction, the chief technology officer now directly owns 111,128 shares of the company’s stock, valued at $3,547,205.76. This trade represents a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the sale, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,863 shares of company stock valued at $3,393,929 over the last ninety days. Corporate insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC grew its holdings in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp boosted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. GAMMA Investing LLC grew its stake in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the 4th quarter valued at $41,000. 89.67% of the stock is currently owned by hedge funds and other 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.