Wayfair Inc. (NYSE:W) Receives $60.24 Consensus Target Price from Analysts

Shares of Wayfair Inc. (NYSE:W) have earned a consensus recommendation of “Moderate Buy” from the twenty-six brokerages that are presently covering the stock, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $60.24.

W has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada cut their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Robert W. Baird cut their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler lowered their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 28th.

Wayfair Stock Performance

W opened at $45.02 on Monday. The company has a fifty day simple moving average of $45.67 and a 200 day simple moving average of $47.30. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.38) EPS. On average, analysts forecast that Wayfair will post -2.91 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 5,669 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,150 shares of company stock worth $6,250,114. Corporate insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Wayfair by 277.4% during the 4th quarter. SG Americas Securities LLC now owns 12,591 shares of the company’s stock valued at $558,000 after purchasing an additional 9,255 shares during the period. Nisa Investment Advisors LLC grew its holdings in Wayfair by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after buying an additional 2,250 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $229,000. Assenagon Asset Management S.A. purchased a new position in shares of Wayfair in the fourth quarter worth $6,799,000. Finally, GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. 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.