Wayfair (NYSE:W) Trading 3.2% Higher – What’s Next?

Shares of Wayfair Inc. (NYSE:W) traded up 3.2% on Friday . The stock traded as high as $45.36 and last traded at $45.13. 182,965 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,398,500 shares. The stock had previously closed at $43.75.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on W shares. Wedbush decreased their target price on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Robert W. Baird decreased their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Royal Bank of Canada dropped their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Citigroup decreased their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Thirteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

The firm’s 50 day simple moving average is $46.12 and its 200-day simple moving average is $48.60. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of -10.18 and a beta of 3.44.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the firm posted ($1.38) earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas Netzer sold 8,435 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $447,561.10. Following the completion of the sale, the chief operating officer now owns 179,180 shares of the company’s stock, valued at approximately $9,507,290.80. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares in the company, valued at $6,257,088.35. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,896 shares of company stock worth $4,869,409. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Wayfair by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock valued at $15,319,000 after purchasing an additional 31,576 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Wayfair by 23.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock worth $33,549,000 after buying an additional 121,792 shares during the last quarter. My Personal CFO LLC bought a new stake in shares of Wayfair during the 2nd quarter worth about $1,201,000. BloombergSen Inc. increased its holdings in shares of Wayfair by 12.5% during the 2nd quarter. BloombergSen Inc. now owns 16,592 shares of the company’s stock valued at $875,000 after acquiring an additional 1,841 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Wayfair in the 2nd quarter valued at approximately $58,000. 89.67% of the stock is 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.