Wayfair (NYSE:W) Rating Increased to Buy at Jefferies Financial Group

Wayfair (NYSE:W) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat Ratings reports. The firm presently has a $47.00 price target on the stock, up from their prior price target of $45.00. Jefferies Financial Group’s price objective would indicate a potential upside of 34.10% from the stock’s previous close.

W has been the topic of several other reports. Canaccord Genuity Group cut their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. BMO Capital Markets increased their target price on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. Piper Sandler set a $58.00 target price on Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus cut their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.69.

Wayfair Stock Up 5.9 %

W stock opened at $35.05 on Friday. Wayfair has a twelve month low of $32.50 and a twelve month high of $76.18. The firm has a market cap of $4.45 billion, a PE ratio of -8.72 and a beta of 3.44. The business has a 50 day moving average of $44.61 and a 200 day moving average of $46.25.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share 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. On average, research analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the sale, the chief financial officer now directly owns 129,964 shares of the company’s stock, valued at $5,841,881.80. This trade represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,228 shares of company stock worth $6,235,818. Corporate insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors raised its holdings in Wayfair by 6.2% during the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares during the period. Vanguard Group Inc. increased its holdings in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after purchasing an additional 581,000 shares during the last quarter. Finally, Southpoint Capital Advisors LP increased its holdings in shares of Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after purchasing an additional 1,400,000 shares during the last quarter. 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.