Wayfair (NYSE:W) Given New $58.00 Price Target at TD Cowen

Wayfair (NYSE:W) had its target price hoisted by TD Cowen from $55.00 to $58.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Wayfair from $57.00 to $61.00 and gave the stock a market perform rating in a research report on Friday. Truist Financial raised their target price on Wayfair from $63.00 to $70.00 and gave the stock a buy rating in a report on Friday. Raymond James raised Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Evercore ISI upgraded Wayfair from an in-line rating to an outperform rating and boosted their price objective for the company from $65.00 to $80.00 in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair presently has an average rating of Moderate Buy and an average target price of $77.29.

Wayfair Price Performance

Shares of W opened at $68.49 on Friday. Wayfair has a one year low of $33.85 and a one year high of $90.71. The business has a fifty day moving average of $60.24 and a 200 day moving average of $55.46. The firm has a market capitalization of $8.24 billion, a P/E ratio of -12.78 and a beta of 3.32.

Wayfair (NYSE:W) last released its quarterly 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 firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Analysts expect that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the completion of the transaction, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas Netzer sold 984 shares of the 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 sale, the chief operating officer now owns 117,841 shares in the company, valued at approximately $7,138,807.78. The disclosure for this sale can be found here. Insiders have sold 86,664 shares of company stock valued at $5,289,900 in the last ninety days. Corporate insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Wayfair in the first quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wayfair in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in Wayfair during the 4th quarter valued at about $31,000. BluePath Capital Management LLC purchased a new stake in Wayfair in the 3rd quarter valued at about $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Wayfair in the 3rd quarter worth about $34,000. 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.