Wayfair (NYSE:W) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Wayfair (NYSE:W) in a report released on Monday morning, Benzinga reports. They currently have a $70.00 target price on the stock.

A number of other analysts have also weighed in on the company. Barclays dropped their price objective on Wayfair from $85.00 to $60.00 and set an equal weight rating for the company in a research note on Thursday, January 4th. Piper Sandler reissued an overweight rating and set a $88.00 price target (down previously from $93.00) on shares of Wayfair in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Wayfair from $63.00 to $79.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Truist Financial dropped their target price on shares of Wayfair from $65.00 to $63.00 and set a buy rating for the company in a report on Friday, February 23rd. Finally, Citigroup boosted their price target on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a report on Thursday, March 28th. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $76.21.

Wayfair Stock Performance

W stock opened at $52.91 on Monday. The firm has a market cap of $6.37 billion, a P/E ratio of -8.12 and a beta of 3.29. The firm’s fifty day moving average is $59.62 and its 200 day moving average is $55.07. Wayfair has a 52 week low of $29.51 and a 52 week high of $90.71.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, analysts forecast that Wayfair will post -3.37 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the transaction, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Fiona Tan sold 5,315 shares of the company’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 sale, the chief technology officer now directly owns 51,095 shares in the company, valued at approximately $3,222,050.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 3,492 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.34, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,808 shares of company stock worth $5,445,222. Corporate insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the company. Capital World Investors raised its holdings in Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after acquiring an additional 962,307 shares during the period. Norges Bank bought a new position in shares of Wayfair during the 4th quarter valued at approximately $47,374,000. AQR Capital Management LLC grew its stake in shares of Wayfair by 422.6% in the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after buying an additional 413,592 shares in the last quarter. Vanguard Group Inc. grew its position in Wayfair by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Wayfair in the 4th quarter worth approximately $23,552,000. 89.67% of the stock is currently owned by institutional investors.

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.