Wayfair Inc. (NYSE:W) Given Consensus Rating of “Moderate Buy” by Analysts

Wayfair Inc. (NYSE:W) has earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $65.63.

A number of brokerages have weighed in on W. Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Barclays decreased their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Wedbush decreased their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at approximately $3,244,707.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the completion of the transaction, the chief executive officer now owns 209,137 shares of the company’s stock, valued at approximately $11,004,788.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,102 shares of company stock worth $2,076,659. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Wayfair by 12.3% during 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 during the last quarter. Truist Financial Corp boosted its holdings in 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 acquiring an additional 3,028 shares in the last quarter. Quarry LP increased its position in shares of Wayfair by 880.0% during the second quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after buying an additional 2,288 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Wayfair by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after acquiring an additional 227,908 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Stock Up 5.7 %

NYSE W opened at $47.35 on Tuesday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -8.83 and a beta of 3.40. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18. The stock has a fifty day simple moving average of $46.78 and a 200 day simple moving average of $55.13.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned ($1.27) EPS. Research analysts expect that Wayfair will post -2.66 earnings per share for the current fiscal year.

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.