Wayfair Inc. (NYSE:W) Receives $60.28 Average Price Target from Analysts

Wayfair Inc. (NYSE:W) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are covering the firm, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $60.28.

A number of research firms have weighed in on W. Deutsche Bank Aktiengesellschaft decreased their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. UBS Group lowered their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 8,435 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $447,561.10. Following the sale, the chief operating officer now directly owns 179,180 shares in the company, valued at approximately $9,507,290.80. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. This represents a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,896 shares of company stock worth $6,241,909. 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 W. Bank of New York Mellon Corp raised its stake in shares of Wayfair by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock valued at $15,319,000 after purchasing an additional 31,576 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Wayfair by 23.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock worth $33,549,000 after buying an additional 121,792 shares in the last quarter. My Personal CFO LLC acquired a new stake in shares of Wayfair in the 2nd quarter worth approximately $1,201,000. BloombergSen Inc. boosted its holdings in shares of Wayfair by 12.5% in the second quarter. BloombergSen Inc. now owns 16,592 shares of the company’s stock valued at $875,000 after acquiring an additional 1,841 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Wayfair during the second quarter valued at approximately $58,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of NYSE:W opened at $45.26 on Thursday. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The firm has a market capitalization of $5.67 billion, a P/E ratio of -10.08 and a beta of 3.44. The company’s fifty day moving average price is $45.92 and its 200 day moving average price is $48.43.

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

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.