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

Wayfair Inc. (NYSE:W) has been assigned a consensus rating of “Moderate Buy” from the twenty-five research firms that are presently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $65.63.

Several research firms have recently issued reports on W. Wedbush reduced their target price on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Citigroup reduced their price objective on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus decreased their target price on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Piper Sandler cut their price target on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Barclays reduced their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th.

Wayfair Stock Up 1.3 %

NYSE W opened at $43.18 on Tuesday. The firm has a 50-day moving average price of $47.44 and a two-hundred day moving average price of $55.47. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The company has a market capitalization of $5.20 billion, a P/E ratio of -8.06 and a beta of 3.41.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business posted ($1.27) EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts expect that Wayfair will post -2.66 EPS for the current year.

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, July 8th. The shares were sold at an average price of $52.62, for a total transaction of $526,200.00. Following the transaction, the chief executive officer now owns 209,137 shares in the company, valued at $11,004,788.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $52.62, for a total value of $526,200.00. Following the transaction, the chief executive officer now owns 209,137 shares in the company, valued at approximately $11,004,788.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders sold a total of 40,102 shares of company stock worth $2,076,659 in the last quarter. 26.81% of the stock is owned by insiders.

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of Wayfair by 12.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock worth $6,673,000 after acquiring an additional 13,832 shares in the last quarter. Truist Financial Corp raised its stake in shares of Wayfair by 46.6% in the second quarter. Truist Financial Corp now owns 9,527 shares of the company’s stock valued at $502,000 after buying an additional 3,028 shares during the period. Quarry LP raised its stake in Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after acquiring an additional 2,288 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Wayfair by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock valued at $948,000 after buying an additional 1,355 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of Wayfair by 46.2% during the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after acquiring an additional 227,908 shares in the last quarter. 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.