Wayfair Inc. (NYSE:W) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $60.28.

Several research firms have weighed in on W. Wedbush dropped their price objective on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets cut their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. UBS Group lowered their target price on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Citigroup cut their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Truist Financial lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th.

Wayfair Stock Down 1.0 %

Shares of NYSE W opened at $45.26 on Thursday. The stock’s fifty day simple moving average is $45.92 and its 200 day simple moving average is $48.43. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -10.08 and a beta of 3.44. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm earned ($1.38) earnings per share. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Wayfair will post -2.91 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This represents a 0.60 % 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 firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $45.75, for a total transaction of $1,372,500.00. Following the completion of the sale, the insider now directly owns 602,573 shares of the company’s stock, valued at approximately $27,567,714.75. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,896 shares of company stock valued at $6,241,909. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Tabor Asset Management LP raised its position in shares of Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares during the period. Groupama Asset Managment raised its holdings in Wayfair by 100.0% in the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares during the period. Wellington Management Group LLP grew its holdings in shares of Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after buying an additional 201,157 shares during the period. Highland Peak Capital LLC bought a new stake in shares of Wayfair in the 2nd quarter valued at $5,165,000. Finally, Sei Investments Co. raised its stake in Wayfair by 32.8% during the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after buying an additional 32,968 shares during the period. 89.67% of the stock is owned by institutional investors.

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.