Wayfair (NYSE:W) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other research analysts have also commented on the stock. Loop Capital reiterated a “sell” rating and set a $35.00 price objective on shares of Wayfair in a research note on Wednesday, May 14th. Canaccord Genuity Group lifted their price target on shares of Wayfair from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Mizuho lifted their price target on shares of Wayfair from $50.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Wayfair from $31.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Gordon Haskett upgraded shares of Wayfair from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.96.

Wayfair Price Performance

NYSE W opened at $71.87 on Friday. Wayfair has a 12 month low of $20.41 and a 12 month high of $78.06. The firm has a market capitalization of $9.32 billion, a PE ratio of -29.95 and a beta of 2.92. The company’s 50 day simple moving average is $56.50 and its 200 day simple moving average is $43.36.

Wayfair (NYSE:W) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Wayfair’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 179,707 shares of Wayfair stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total transaction of $9,448,994.06. Following the completion of the sale, the chief executive officer owned 236,850 shares of the company’s stock, valued at $12,453,573. This trade represents a 43.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 180,943 shares of Wayfair stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the sale, the insider directly owned 236,167 shares of the company’s stock, valued at $12,420,022.53. This trade represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 821,398 shares of company stock valued at $42,882,832 in the last ninety days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the stock. True Wealth Design LLC raised its holdings in shares of Wayfair by 207.1% during the 4th 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. GAMMA Investing LLC raised its holdings in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock valued at $81,000 after purchasing an additional 1,097 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock valued at $96,000 after purchasing an additional 617 shares in the last quarter. Finally, GFG Capital LLC bought a new position in shares of Wayfair during the 2nd quarter valued at $102,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.