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

Shares of Wayfair Inc. (NYSE:W) have received an average rating of “Moderate Buy” from the twenty-seven analysts that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $78.50.

Several brokerages have recently commented on W. Citigroup raised their target price on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $70.00 price target on shares of Wayfair in a research note on Friday, May 3rd. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Finally, Truist Financial raised their target price on Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd.

Wayfair Trading Down 4.1 %

Shares of Wayfair stock opened at $50.55 on Thursday. Wayfair has a 52 week low of $38.37 and a 52 week high of $90.71. The company’s 50-day moving average price is $58.81 and its two-hundred day moving average price is $58.46. The stock has a market cap of $6.08 billion, a PE ratio of -9.43 and a beta of 3.39.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. On average, equities analysts predict that Wayfair will post -2.94 EPS for the current fiscal year.

Insider Activity

In other news, CTO Fiona Tan sold 4,884 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $65.03, for a total transaction of $317,606.52. Following the completion of the transaction, the chief technology officer now directly owns 41,027 shares of the company’s stock, valued at approximately $2,667,985.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Fiona Tan sold 4,884 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.03, for a total transaction of $317,606.52. Following the completion of the transaction, the chief technology officer now directly owns 41,027 shares in the company, valued at approximately $2,667,985.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the sale, the insider now directly owns 219,073 shares in the company, valued at approximately $12,441,155.67. The disclosure for this sale can be found here. Insiders have sold a total of 50,048 shares of company stock worth $3,178,887 over the last three months. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors lifted its position in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares during the last quarter. Norges Bank acquired a new stake in Wayfair during the 4th quarter valued at $47,374,000. AQR Capital Management LLC boosted its position in Wayfair by 422.6% during the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after purchasing an additional 413,592 shares during the period. Vanguard Group Inc. increased its holdings in shares of Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after purchasing an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Wayfair in the fourth quarter valued at about $23,552,000. 89.67% of the stock is owned by institutional investors.

About Wayfair

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.