TD Cowen Raises Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price raised by TD Cowen from $50.00 to $55.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on W. Citigroup upped their target price on shares of Wayfair from $73.00 to $85.00 and gave the company a buy rating in a research report on Thursday, March 28th. Barclays cut their target price on shares of Wayfair from $85.00 to $60.00 and set an equal weight rating on the stock in a research report on Thursday, January 4th. Canaccord Genuity Group reiterated a buy rating and issued a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Needham & Company LLC reiterated a buy rating and issued a $75.00 price target on shares of Wayfair in a research report on Thursday, February 22nd. Finally, Wedbush reiterated an outperform rating and issued a $70.00 price target on shares of Wayfair in a research report on Monday, April 22nd. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $76.21.

Wayfair Trading Up 2.1 %

Wayfair stock opened at $52.01 on Wednesday. Wayfair has a 1 year low of $29.51 and a 1 year high of $90.71. The company has a market cap of $6.26 billion, a PE ratio of -7.98 and a beta of 3.29. The company’s 50-day moving average is $59.59 and its two-hundred day moving average is $55.03.

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

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Thomas Netzer sold 984 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the transaction, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. 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 ninety days. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. Allspring Global Investments Holdings LLC boosted its position in Wayfair by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock worth $24,606,000 after purchasing an additional 94,540 shares during the period. Federated Hermes Inc. bought a new position in Wayfair during the third quarter worth $1,147,000. Vanguard Group Inc. boosted its position in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after purchasing an additional 386,717 shares during the period. Canada Pension Plan Investment Board boosted its position in Wayfair by 3,978.9% during the third quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock worth $22,235,000 after purchasing an additional 358,100 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Wayfair by 88.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock worth $38,438,000 after purchasing an additional 297,235 shares during the period. 89.67% of the stock is owned by institutional investors.

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.