Brokerages Set Wayfair Inc. (NYSE:W) Price Target at $64.64

Shares of Wayfair Inc. (NYSE:W) have received an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $64.21.

Several research analysts have commented on W shares. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Raymond James cut their price objective on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Loop Capital upped their price objective on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th.

Wayfair Price Performance

NYSE:W opened at $40.16 on Wednesday. Wayfair has a one year low of $38.02 and a one year high of $76.18. The company has a market cap of $4.96 billion, a PE ratio of -7.59 and a beta of 3.42. The firm’s 50 day simple moving average is $48.69 and its 200 day simple moving average is $52.39.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the business posted ($1.27) EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts expect that Wayfair will post -2.68 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the transaction, the chief financial officer now owns 117,947 shares in the company, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,471 shares of company stock worth $1,987,002 in the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several large investors have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in Wayfair in the 3rd quarter valued at about $29,000. BloombergSen Inc. grew its holdings in shares of Wayfair by 54.4% in the third quarter. BloombergSen Inc. now owns 25,617 shares of the company’s stock valued at $1,439,000 after acquiring an additional 9,025 shares in the last quarter. Optas LLC purchased a new stake in shares of Wayfair during the third quarter valued at approximately $270,000. Nisa Investment Advisors LLC lifted its holdings in Wayfair by 801.5% during the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock worth $2,385,000 after acquiring an additional 37,750 shares during the period. Finally, Semanteon Capital Management LP purchased a new position in Wayfair in the third quarter worth $277,000. 89.67% of the stock is currently owned by 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.