Wayfair (NYSE:W) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Wayfair (NYSE:W) in a report released on Monday morning, Benzinga reports. Wedbush currently has a $70.00 target price on the stock.

Several other research firms have also issued reports on W. Canaccord Genuity Group reissued a buy rating and set a $80.00 target price on shares of Wayfair in a report on Friday, February 23rd. Stifel Nicolaus raised their target price on shares of Wayfair from $52.00 to $55.00 and gave the company a hold rating in a report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Truist Financial decreased their price objective on shares of Wayfair from $65.00 to $63.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Finally, StockNews.com upgraded Wayfair from a sell rating to a hold rating in a research note on Friday, March 29th. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $76.21.

Wayfair Stock Down 8.4 %

Shares of Wayfair stock opened at $52.91 on Monday. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of -8.12 and a beta of 3.29. Wayfair has a twelve month low of $29.51 and a twelve month high of $90.71. The company has a 50-day simple moving average of $59.62 and a two-hundred day simple moving average of $55.07.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, sell-side analysts anticipate that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 1,700 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total value of $88,434.00. Following the sale, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at approximately $13,912,072.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at approximately $13,912,072.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 20,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the transaction, the chief operating officer now directly owns 116,622 shares in the company, valued at $6,964,665.84. The disclosure for this sale can be found here. Insiders sold 89,808 shares of company stock worth $5,445,222 over the last ninety days. 23.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after acquiring an additional 962,307 shares in the last quarter. Norges Bank acquired a new stake in Wayfair in the 4th quarter valued at $47,374,000. AQR Capital Management LLC increased its stake in Wayfair by 422.6% during the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock valued at $30,979,000 after purchasing an additional 413,592 shares in the last quarter. Vanguard Group Inc. raised its holdings in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after buying an additional 386,717 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new position in Wayfair during the fourth quarter worth $23,552,000. 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.