Wayfair (NYSE:W) PT Raised to $61.00

Wayfair (NYSE:W) had its target price increased by BMO Capital Markets from $57.00 to $61.00 in a report issued on Friday, Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC restated a buy rating and set a $75.00 price objective on shares of Wayfair in a research report on Thursday. Evercore ISI raised shares of Wayfair from an in-line rating to an outperform rating and increased their price target for the stock from $65.00 to $80.00 in a report on Thursday, April 4th. Truist Financial lifted their price objective on Wayfair from $63.00 to $70.00 and gave the company a buy rating in a report on Friday. Piper Sandler reissued an overweight rating and set a $91.00 target price (up from $88.00) on shares of Wayfair in a research note on Friday. Finally, Citigroup lifted their price target on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $77.14.

Wayfair Stock Performance

Shares of NYSE:W opened at $63.59 on Friday. Wayfair has a one year low of $33.85 and a one year high of $90.71. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -11.86 and a beta of 3.32. The company has a 50-day simple moving average of $59.92 and a 200-day simple moving average of $55.29.

Wayfair (NYSE:W) last issued its quarterly earnings results 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 analyst estimates of $3.10 billion. As a group, research analysts forecast that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the sale, the chief operating officer now directly owns 116,622 shares in the company, valued at $6,964,665.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction on Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the sale, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares in the company, valued at $2,297,157.64. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 over the last quarter. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Wayfair by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company’s stock valued at $24,606,000 after buying an additional 94,540 shares during the period. Federated Hermes Inc. acquired a new position in Wayfair in the third quarter valued at $1,147,000. Vanguard Group Inc. grew its position in Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after acquiring an additional 386,717 shares during the period. Canada Pension Plan Investment Board increased its stake in Wayfair by 3,978.9% during the third quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock worth $22,235,000 after acquiring an additional 358,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Wayfair by 88.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock worth $38,438,000 after purchasing an additional 297,235 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.