Analysts Set Wayfair Inc. (NYSE:W) Price Target at $60.28

Shares of Wayfair Inc. (NYSE:W) have received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are presently covering the company, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.28.

W has been the topic of a number of analyst reports. Barclays decreased their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Truist Financial cut their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Mizuho lowered their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada cut their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Finally, Loop Capital lifted their target price on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 26th.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,868 shares of company stock valued at $3,272,548. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently made changes to their positions in W. Vanguard Group Inc. boosted its position in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Renaissance Technologies LLC lifted its stake in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP boosted its holdings in Wayfair by 22.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after purchasing an additional 432,404 shares during the period. Geode Capital Management LLC increased its holdings in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after purchasing an additional 35,268 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair in the third quarter worth $78,652,000. 89.67% of the stock is owned by institutional investors.

Wayfair Price Performance

W stock opened at $45.32 on Friday. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of -10.09 and a beta of 3.46. The company has a 50 day simple moving average of $47.76 and a 200 day simple moving average of $50.24.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.38) earnings per share. On average, equities research analysts anticipate that Wayfair will post -2.92 EPS for the current fiscal 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.