Wayfair (NYSE:W) Price Target Increased to $55.00 by Analysts at TD Cowen

Wayfair (NYSE:W) had its target price lifted by TD Cowen from $50.00 to $55.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently commented on W. Stifel Nicolaus increased their price objective on Wayfair from $52.00 to $55.00 and gave the company a hold rating in a research report on Tuesday, January 9th. Mizuho began coverage on shares of Wayfair in a report on Tuesday, March 19th. They set a buy rating and a $72.00 price target on the stock. Wedbush reissued an outperform rating and set a $70.00 price objective on shares of Wayfair in a report on Monday. Morgan Stanley restated an overweight rating and issued a $80.00 target price on shares of Wayfair in a report on Monday, March 25th. Finally, Loop Capital boosted their target price on shares of Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wayfair presently has an average rating of Moderate Buy and an average price target of $76.21.

Wayfair Price Performance

NYSE W opened at $52.91 on Wednesday. Wayfair has a 12 month low of $29.51 and a 12 month high of $90.71. The stock’s fifty day moving average price is $59.62 and its 200-day moving average price is $55.07.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, equities research analysts forecast that Wayfair will post -3.37 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,808 shares of company stock valued at $5,445,222. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of W. Riverview Trust Co bought a new position in shares of Wayfair during the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair in the 4th quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in Wayfair in the fourth quarter worth $31,000. BluePath Capital Management LLC bought a new stake in shares of Wayfair during the third quarter worth $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Wayfair during the third quarter valued at $34,000. Institutional investors own 89.67% of the company’s stock.

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.