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

Shares of Wayfair Inc. (NYSE:W) have received an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.24.

W has been the subject of several analyst reports. Stifel Nicolaus cut their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Robert W. Baird cut their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup lowered their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial cut their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Loop Capital upped their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, December 16th.

Wayfair Stock Down 2.8 %

NYSE:W opened at $44.08 on Monday. The business’s 50-day moving average price is $45.42 and its two-hundred day moving average price is $47.58. The stock has a market cap of $5.52 billion, a P/E ratio of -9.82 and a beta of 3.43. Wayfair has a twelve month low of $37.35 and a twelve month high of $76.18.

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

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fiona Tan sold 8,249 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,481 shares of company stock worth $6,007,310 in the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in W. GAMMA Investing LLC increased its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the period. 272 Capital LP raised its position in shares of Wayfair by 15.7% in the 3rd quarter. 272 Capital LP now owns 44,053 shares of the company’s stock worth $2,475,000 after acquiring an additional 5,965 shares in the last quarter. Tidal Investments LLC boosted its position in Wayfair by 18.1% during the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after purchasing an additional 3,320 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock worth $8,283,000 after purchasing an additional 20,884 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after buying an additional 35,268 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.