Analysts Set Wayfair Inc. (NYSE:W) Price Target at $56.81

Shares of Wayfair Inc. (NYSE:W) have earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are covering the company, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $56.81.

Several research analysts have recently weighed in on W shares. JPMorgan Chase & Co. lowered their price objective on Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Raymond James set a $60.00 target price on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Loop Capital lowered their price objective on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, BMO Capital Markets increased their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st.

Wayfair Stock Performance

NYSE:W opened at $32.10 on Friday. Wayfair has a fifty-two week low of $29.68 and a fifty-two week high of $76.18. The company has a 50 day simple moving average of $41.03 and a two-hundred day simple moving average of $45.20. The company has a market capitalization of $4.07 billion, a PE ratio of -7.98 and a beta of 3.44.

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 the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Research analysts predict that Wayfair will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares of the company’s stock, valued at approximately $4,336,374.87. The trade was a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,189 shares of company stock valued at $4,810,693 over the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of W. True Wealth Design LLC increased its stake in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Wayfair during the fourth quarter worth approximately $41,000. Hedge funds and other 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.