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

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $50.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 8.53% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. Wedbush downgraded Wayfair from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $44.00 in a research note on Monday, January 6th. Truist Financial reduced their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler cut their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Loop Capital increased their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.04.

Wayfair Trading Down 0.6 %

NYSE W opened at $46.07 on Friday. The business has a fifty day simple moving average of $46.42 and a 200 day simple moving average of $46.50. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The firm has a market capitalization of $5.77 billion, a P/E ratio of -10.26 and a beta of 3.43.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). As a group, sell-side analysts predict that Wayfair will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 4,966 shares of Wayfair stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.93, for a total transaction of $223,122.38. Following the completion of the sale, the insider now directly owns 68,089 shares in the company, valued at $3,059,238.77. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the transaction, the insider now directly owns 589,073 shares in the company, valued at $28,540,586.85. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,228 shares of company stock valued at $6,440,118. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Wayfair during the third quarter worth about $29,000. True Wealth Design LLC raised its holdings in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after buying an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares in the last quarter. 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.