Wayfair (NYSE:W) Given Buy Rating at Needham & Company LLC

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $75.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 29.47% from the stock’s current price.

Several other research firms have also recently weighed in on W. Truist Financial lowered their price objective on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $88.00 price objective (down previously from $93.00) on shares of Wayfair in a research report on Friday, February 23rd. Mizuho began coverage on shares of Wayfair in a research report on Tuesday, March 19th. They set a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets assumed coverage on shares of Wayfair in a report on Tuesday, January 9th. They set a “market perform” rating and a $57.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.21.

Wayfair Trading Up 14.6 %

W stock traded up $7.40 during trading on Thursday, hitting $57.93. The company had a trading volume of 9,093,890 shares, compared to its average volume of 4,383,738. The company has a fifty day moving average price of $59.61 and a two-hundred day moving average price of $55.02. Wayfair has a fifty-two week low of $30.70 and a fifty-two week high of $90.71. The company has a market cap of $6.97 billion, a P/E ratio of -8.84 and a beta of 3.32.

Wayfair (NYSE:W) last issued its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, analysts expect that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the sale, the chief executive officer now directly owns 267,437 shares in the company, valued at $13,912,072.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Kate Gulliver sold 3,696 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.09, for a total transaction of $233,180.64. Following the completion of the sale, the chief financial officer now directly owns 89,555 shares in the company, valued at approximately $5,650,024.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the transaction, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The disclosure for this sale can be found here. Insiders sold 89,808 shares of company stock valued at $5,445,222 in the last three months. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Wayfair by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company’s stock worth $622,000 after purchasing an additional 537 shares during the last quarter. Raymond James & Associates raised its stake in Wayfair by 9.3% during the third quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock worth $347,000 after buying an additional 486 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Wayfair by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company’s stock valued at $16,567,000 after purchasing an additional 7,719 shares during the period. Rothschild & Co Wealth Management UK Ltd boosted its holdings in shares of Wayfair by 13.7% during the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 197,267 shares of the company’s stock worth $11,948,000 after buying an additional 23,733 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in Wayfair during the third quarter worth $34,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.