Analysts Set Wayfair Inc. (NYSE:W) Target Price at $67.00

Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $65.63.

Several research firms have recently weighed in on W. Piper Sandler lowered their target price on shares of Wayfair from $91.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays lowered their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Wayfair in a report on Thursday, May 16th. Raymond James reduced their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Wayfair Price Performance

Shares of Wayfair stock opened at $42.26 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of -7.88 and a beta of 3.43. The company’s fifty day moving average price is $50.00 and its two-hundred day moving average price is $56.24. Wayfair has a 52-week low of $38.02 and a 52-week high of $76.18.

Wayfair (NYSE:W) last announced 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 business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned ($1.27) earnings per share. Wayfair’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Wayfair will post -2.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the sale, the insider now directly owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Steven Conine sold 10,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the sale, the insider now directly owns 219,073 shares of the company’s stock, valued at approximately $12,441,155.67. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,102 shares of company stock worth $2,644,559. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently bought and sold shares of W. Riverview Trust Co bought a new position in shares of Wayfair during the 1st quarter worth approximately $27,000. GAMMA Investing LLC bought a new position in shares of Wayfair during the 4th quarter worth approximately $31,000. ORG Partners LLC bought a new position in shares of Wayfair during the 1st quarter worth approximately $37,000. International Assets Investment Management LLC bought a new position in shares of Wayfair during the 2nd quarter worth approximately $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Wayfair during the 4th quarter worth approximately $74,000. 89.67% of the stock is owned by institutional investors.

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.