Analysts Set Wayfair Inc. (NYSE:W) Target Price at $43.83

Shares of Wayfair Inc. (NYSE:W) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.83.

Several research analysts have weighed in on W shares. BMO Capital Markets set a $38.00 price target on Wayfair in a report on Friday, May 2nd. Canaccord Genuity Group decreased their price target on Wayfair from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Truist Financial set a $40.00 price target on Wayfair in a research note on Friday, May 2nd. UBS Group cut their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Monday, April 14th.

Insider Activity

In other news, CEO Niraj Shah sold 2,258 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total transaction of $90,342.58. Following the completion of the sale, the chief executive officer now directly owns 541,627 shares in the company, valued at $21,670,496.27. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,330 shares of company stock worth $4,767,406. 21.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently made changes to their positions in the business. True Wealth Design LLC increased its stake in shares of Wayfair by 207.1% in 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 during the last quarter. J.Safra Asset Management Corp grew its holdings in 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 acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of 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 purchasing an additional 502 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Wayfair during the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Wayfair during the fourth quarter worth about $45,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Trading Down 1.5%

Wayfair stock opened at $38.08 on Friday. Wayfair has a 52 week low of $20.41 and a 52 week high of $66.82. The stock has a market cap of $4.83 billion, a PE ratio of -9.47 and a beta of 2.93. The stock has a 50-day moving average price of $31.38 and a 200 day moving average price of $39.92.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) EPS. On average, equities analysts predict that Wayfair will post -2.54 EPS for the current 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.