Wayfair (NYSE:W) Earns Buy Rating from Needham & Company LLC

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $50.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.29% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity Group cut their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Loop Capital boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Wedbush cut Wayfair from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Finally, Piper Sandler lowered their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Wayfair Trading Down 9.0 %

Shares of NYSE:W opened at $41.92 on Friday. The stock has a 50 day moving average of $46.22 and a 200 day moving average of $46.51. The company has a market cap of $5.25 billion, a PE ratio of -10.43 and a beta of 3.43. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Equities research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Thomas Netzer sold 1,039 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,228 shares of company stock valued at $7,830,018. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Wayfair in the 3rd quarter valued at $29,000. True Wealth Design LLC grew its position in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the last quarter. J.Safra Asset Management Corp grew its position in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

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.