Wayfair (NYSE:W) Stock Rating Upgraded by StockNews.com

Wayfair (NYSE:W) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

W has been the subject of several other research reports. Argus raised Wayfair from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Thursday, May 16th. Loop Capital lifted their price objective on Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Mizuho initiated coverage on Wayfair in a research note on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. Sanford C. Bernstein lifted their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Wayfair in a research note on Thursday, May 16th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.83.

Wayfair Stock Performance

NYSE:W opened at $52.62 on Friday. Wayfair has a one year low of $38.37 and a one year high of $90.71. The stock has a market cap of $6.33 billion, a PE ratio of -9.82 and a beta of 3.39. The stock has a 50 day moving average price of $60.36 and a 200 day moving average price of $58.80.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. As a group, analysts predict that Wayfair will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 3,282 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the transaction, the insider now owns 48,322 shares in the company, valued at approximately $3,049,118.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wayfair news, insider Jon Blotner sold 3,282 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total transaction of $207,094.20. Following the transaction, the insider now owns 48,322 shares in the company, valued at approximately $3,049,118.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 3,696 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.09, for a total value of $233,180.64. Following the transaction, the chief financial officer now owns 89,555 shares in the company, valued at approximately $5,650,024.95. The disclosure for this sale can be found here. Insiders have sold 65,680 shares of company stock worth $4,164,783 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

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