Wayfair (NYSE:W) PT Raised to $70.00 at Truist Financial

Wayfair (NYSE:W) had its target price boosted by Truist Financial from $63.00 to $70.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on W. Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a research note on Friday, February 16th. Stifel Nicolaus lifted their target price on Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. Royal Bank of Canada dropped their price target on Wayfair from $62.00 to $61.00 and set a sector perform rating on the stock in a research report on Wednesday, April 24th. Wedbush reaffirmed an outperform rating and issued a $70.00 price objective on shares of Wayfair in a report on Friday. Finally, Barclays dropped their target price on shares of Wayfair from $85.00 to $60.00 and set an equal weight rating on the stock in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has an average rating of Moderate Buy and an average price target of $76.45.

Wayfair Trading Up 8.4 %

Shares of W traded up $4.95 during mid-day trading on Friday, reaching $63.59. 8,825,370 shares of the stock traded hands, compared to its average volume of 4,777,874. The stock has a fifty day simple moving average of $59.92 and a 200 day simple moving average of $55.16. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71.

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

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the sale, the insider now directly owns 32,118 shares in the company, valued at $1,616,820.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Wayfair news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Niraj Shah sold 10,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $64.58, for a total value of $645,800.00. Following the sale, the chief executive officer now owns 239,137 shares of the company’s stock, valued at approximately $15,443,467.46. The disclosure for this sale can be found here. Insiders have sold 90,156 shares of company stock worth $5,465,688 over the last quarter. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. Capital World Investors grew its position in Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after purchasing an additional 962,307 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Wayfair by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after buying an additional 273,652 shares in the last quarter. Atreides Management LP grew its holdings in shares of Wayfair by 1.8% during the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after buying an additional 16,932 shares in the last quarter. Norges Bank acquired a new position in Wayfair during the fourth quarter valued at $47,374,000. Finally, Wellington Management Group LLP lifted its stake in Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares in the last quarter. Hedge funds and other 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.