Wayfair’s (W) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Wayfair (NYSE:W) in a research report released on Wednesday, Marketbeat reports. Needham & Company LLC currently has a $60.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Royal Bank of Canada dropped their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus dropped their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

Wayfair Trading Down 2.1 %

Wayfair stock opened at $44.41 on Wednesday. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The stock has a market cap of $5.35 billion, a P/E ratio of -8.29 and a beta of 3.42. The company has a 50-day moving average price of $48.77 and a 200 day moving average price of $53.05.

Wayfair (NYSE:W) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the firm posted ($1.27) EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Wayfair will post -2.68 EPS for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,891 shares of company stock worth $2,007,213 over the last 90 days. 26.81% of the stock is owned by insiders.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of W. Renaissance Technologies LLC raised its position in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its position in Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Maverick Capital Ltd. raised its position in Wayfair by 46.2% in the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after purchasing an additional 227,908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Wayfair in the 1st quarter valued at $13,690,000. 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.