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

Shares of Wayfair Inc. (NYSE:W) have received a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $77.03.

Several equities research analysts have recently weighed in on W shares. Loop Capital increased their price target on Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Wayfair in a report on Friday, February 23rd. Barclays reduced their price target on Wayfair from $85.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, January 4th. Raymond James upgraded Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a report on Friday, February 16th. Finally, Piper Sandler restated an “overweight” rating and set a $88.00 price objective (down from $93.00) on shares of Wayfair in a report on Friday, February 23rd.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Wayfair news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kate Gulliver sold 3,395 shares of Wayfair stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.04, for a total value of $220,810.80. Following the transaction, the chief financial officer now owns 82,560 shares of the company’s stock, valued at approximately $5,369,702.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,808 shares of company stock valued at $5,445,222. 23.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Wayfair by 8.7% in the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares in the last quarter. Vanguard Group Inc. increased its stake in Wayfair by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock worth $500,014,000 after buying an additional 273,652 shares in the last quarter. Spruce House Investment Management LLC increased its stake in Wayfair by 4.3% during the 4th quarter. Spruce House Investment Management LLC now owns 3,650,000 shares of the company’s stock worth $120,048,000 after buying an additional 150,000 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its stake in Wayfair by 9.1% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock worth $381,085,000 after buying an additional 285,729 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Wayfair by 30.3% during the 1st quarter. Two Sigma Investments LP now owns 1,291,717 shares of the company’s stock worth $44,358,000 after buying an additional 300,645 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

NYSE:W opened at $54.74 on Friday. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -8.40 and a beta of 3.29. Wayfair has a 1 year low of $29.51 and a 1 year high of $90.71. The business has a 50 day simple moving average of $59.35 and a 200-day simple moving average of $55.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, analysts expect that Wayfair will post -3.37 earnings per share 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.