Wayfair (NYSE:W) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Wayfair (NYSE:W) in a research note published on Friday morning, Benzinga reports. Piper Sandler currently has a $91.00 price objective on the stock, up from their prior price objective of $88.00.

Several other equities analysts have also recently weighed in on the company. Mizuho began coverage on Wayfair in a report on Tuesday, March 19th. They set a buy rating and a $72.00 price target for the company. Truist Financial decreased their price target on shares of Wayfair from $65.00 to $63.00 and set a buy rating on the stock in a research note on Friday, February 23rd. StockNews.com raised shares of Wayfair from a sell rating to a hold rating in a research note on Friday, March 29th. Needham & Company LLC restated a buy rating and issued a $75.00 target price on shares of Wayfair in a report on Thursday, May 2nd. Finally, Raymond James raised shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair currently has an average rating of Moderate Buy and an average price target of $77.29.

Wayfair Stock Performance

W stock opened at $68.49 on Friday. The company’s fifty day moving average price is $60.24 and its 200-day moving average price is $55.46. Wayfair has a one year low of $33.85 and a one year high of $90.71. The company has a market capitalization of $8.24 billion, a PE ratio of -12.78 and a beta of 3.32.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, research analysts predict that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, COO Thomas Netzer sold 20,000 shares of the company’s 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 transaction, the chief operating officer now owns 116,622 shares in the company, valued at $6,964,665.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $59.90, for a total transaction of $599,000.00. Following the transaction, the chief executive officer now owns 249,137 shares of the company’s stock, valued at $14,923,306.30. The disclosure for this sale can be found here. Insiders sold 86,664 shares of company stock valued at $5,289,900 in the last quarter. 23.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of Wayfair in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in Wayfair in the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new position in shares of Wayfair during the 3rd quarter worth approximately $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Wayfair during the 3rd quarter valued at approximately $34,000. 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.