Wayfair Inc. (NYSE:W) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Wayfair Inc. (NYSE:W) have received an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $78.50.

A number of analysts recently issued reports on W shares. TD Cowen upped their target price on Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Morgan Stanley increased their price objective on Wayfair from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Loop Capital cut their target price on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Piper Sandler reiterated an “overweight” rating and issued a $91.00 price target (up previously from $88.00) on shares of Wayfair in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th.

Wayfair Trading Up 0.9 %

Shares of NYSE:W opened at $50.23 on Thursday. The firm has a 50 day simple moving average of $58.96 and a 200-day simple moving average of $58.56. Wayfair has a twelve month low of $38.37 and a twelve month high of $90.71. The company has a market capitalization of $6.05 billion, a PE ratio of -9.37 and a beta of 3.39.

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

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the sale, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the sale, the insider now owns 229,073 shares of the company’s stock, valued at $15,636,522.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,680 shares of company stock worth $4,164,783. 26.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Wayfair by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after buying an additional 94,540 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Wayfair in the 3rd quarter worth approximately $1,147,000. Vanguard Group Inc. boosted its stake in Wayfair by 5.2% during the 3rd 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 in the last quarter. International Assets Investment Management LLC raised its stake in shares of Wayfair by 8,977.8% in the 4th quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock worth $4,195,000 after buying an additional 67,244 shares in the last quarter. Finally, Honeycomb Asset Management LP bought a new position in shares of Wayfair during the 4th quarter valued at about $6,170,000. 89.67% of the stock is 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.