Analysts Set Wayfair Inc. (NYSE:W) Target Price at $60.28

Wayfair Inc. (NYSE:W) has been given an average recommendation of “Moderate Buy” by the twenty-six research firms that are presently covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.28.

W has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Mizuho reduced their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Citigroup decreased their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Raymond James cut their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. The trade was a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,868 shares of company stock worth $3,272,548. 23.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Vanguard Group Inc. boosted its position in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares in the last quarter. Highland Peak Capital LLC purchased a new position in Wayfair during the second quarter valued at $5,165,000. Sei Investments Co. boosted its holdings in Wayfair by 32.8% in the second quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after acquiring an additional 32,968 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Wayfair in the second quarter worth $8,189,000. Finally, Caxton Associates LP bought a new position in shares of Wayfair during the first quarter valued at $1,164,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

Wayfair stock opened at $45.32 on Friday. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The stock has a market cap of $5.68 billion, a P/E ratio of -10.09 and a beta of 3.46. The firm’s fifty day moving average price is $47.76 and its 200-day moving average price is $50.24.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.38) earnings per share. On average, analysts predict that Wayfair will post -2.92 earnings per share for the current year.

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.