Brokerages Set Wayfair Inc. (NYSE:W) Target Price at $78.44

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven analysts that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $78.37.

W has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target on Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. BMO Capital Markets increased their target price on Wayfair from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Truist Financial increased their target price on Wayfair from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. TD Cowen increased their target price on Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, StockNews.com cut Wayfair from a “hold” rating to a “sell” rating in a report on Sunday, June 23rd.

Wayfair Stock Performance

W opened at $53.02 on Monday. The stock’s 50 day simple moving average is $55.06 and its 200 day simple moving average is $57.25. Wayfair has a 1-year low of $38.37 and a 1-year high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.11. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. On average, equities analysts expect that Wayfair will post -2.93 EPS for the current year.

Insider Activity

In other news, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the completion of the sale, the insider now directly owns 229,073 shares in the company, valued at $15,636,522.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the transaction, the insider now directly owns 229,073 shares in the company, valued at $15,636,522.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the transaction, the insider now owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The disclosure for this sale can be found here. Insiders sold 60,030 shares of company stock worth $3,327,414 over the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in Wayfair in the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $37,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $74,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.