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

Shares of Wayfair Inc. (NYSE:W) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, Marketbeat reports. Twelve investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.28.

A number of brokerages recently issued reports on W. Piper Sandler lowered their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Robert W. Baird cut their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Wedbush reduced their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 4th.

Wayfair Trading Down 1.1 %

NYSE:W opened at $44.75 on Thursday. The stock has a 50-day moving average price of $45.75 and a 200 day moving average price of $48.34. The stock has a market capitalization of $5.61 billion, a P/E ratio of -9.97 and a beta of 3.44. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. On average, research analysts predict that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Thomas Netzer sold 8,435 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $447,561.10. Following the completion of the sale, the chief operating officer now owns 179,180 shares in the company, valued at approximately $9,507,290.80. This represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the transaction, the chief financial officer now owns 117,947 shares in the company, valued at approximately $6,257,088.35. This trade represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,896 shares of company stock worth $6,241,909. 23.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in W. Tabor Asset Management LP grew its holdings in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after buying an additional 15,932 shares during the last quarter. Groupama Asset Managment grew its stake in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after purchasing an additional 201,157 shares during the period. Highland Peak Capital LLC purchased a new position in shares of Wayfair in the second quarter worth about $5,165,000. Finally, Sei Investments Co. lifted its holdings in shares of Wayfair by 32.8% during the second quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after purchasing an additional 32,968 shares during the period. Institutional investors and hedge funds 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.