Wayfair Inc. (NYSE:W) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Wayfair Inc. (NYSE:W – Get Free Report) have received a consensus rating of “Moderate Buy” from the thirty-two brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $105.2857.

A number of research firms have issued reports on W. The Goldman Sachs Group increased their target price on shares of Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Needham & Company LLC lifted their price objective on Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Bank of America upgraded Wayfair from a “neutral” rating to a “buy” rating in a report on Tuesday, October 28th.

Check Out Our Latest Research Report on Wayfair

Wayfair Trading Down 1.3%

Shares of NYSE W opened at $93.97 on Thursday. Wayfair has a one year low of $20.41 and a one year high of $114.92. The business has a 50-day moving average price of $95.24 and a two-hundred day moving average price of $75.61. The firm has a market capitalization of $12.25 billion, a PE ratio of -36.71 and a beta of 3.25.

Wayfair (NYSE:W – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Wayfair’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. Research analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 150,000 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the insider directly owned 729,073 shares in the company, valued at approximately $77,223,412.16. This represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares in the company, valued at $77,222,899.67. The trade was a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 955,959 shares of company stock valued at $88,260,274. 21.91% of the stock is currently owned by insiders.

Institutional Trading of Wayfair

Several large investors have recently made changes to their positions in W. AQR Capital Management LLC lifted its stake in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after buying an additional 276,471 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Wayfair in the 2nd quarter valued at approximately $1,512,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Wayfair in the 1st quarter worth approximately $452,000. Signaturefd LLC grew its holdings in shares of Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after purchasing an additional 34,507 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Wayfair during the second quarter valued at approximately $2,747,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

(Get Free Report)

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.

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