Wayfair Inc. (NYSE:W) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, MarketBeat reports. Nine equities 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. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $77.03.

A number of equities research analysts recently commented on W shares. Barclays reduced their price objective on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Wayfair in a report on Monday, March 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Wayfair in a report on Friday, February 23rd. Evercore ISI raised Wayfair from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $80.00 in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 10th.

Insider Buying and Selling

In related news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares in the company, valued at approximately $13,912,072.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 51,095 shares in the company, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Niraj Shah sold 1,700 shares of the business’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 completion of the transaction, the chief executive officer now owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The disclosure for this sale can be found here. Insiders sold 89,808 shares of company stock worth $5,445,222 in the last ninety days. Insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Holocene Advisors LP grew its stake in shares of Wayfair by 2,236.9% during the 2nd quarter. Holocene Advisors LP now owns 1,067,252 shares of the company’s stock valued at $69,382,000 after buying an additional 1,021,583 shares during the period. Capital World Investors grew 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 valued at $743,004,000 after buying an additional 962,307 shares during the period. Norges Bank purchased a new stake in shares of Wayfair during the 4th quarter valued at $28,044,000. Alyeska Investment Group L.P. purchased a new stake in shares of Wayfair during the 1st quarter valued at $18,969,000. Finally, AQR Capital Management LLC grew its stake in shares of 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 buying an additional 413,592 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Performance

Shares of W opened at $54.74 on Friday. Wayfair has a fifty-two week low of $29.51 and a fifty-two week high of $90.71. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -8.40 and a beta of 3.29. The firm has a 50-day simple moving average of $59.35 and a 200-day simple moving average of $55.18.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Equities research analysts forecast that Wayfair will post -3.37 EPS for the current year.

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.