Wayfair Inc. (NYSE:W) Receives $105.29 Consensus PT from Analysts

Wayfair Inc. (NYSE:W) has been given a consensus rating of “Moderate Buy” by the thirty-two research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $105.2857.

Several research firms recently commented on W. Needham & Company LLC upped their price target on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Citigroup upped their target price on shares of Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Piper Sandler reiterated an “overweight” rating on shares of Wayfair in a research note on Friday, November 21st. BMO Capital Markets set a $110.00 price target on Wayfair and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company upped their price objective on Wayfair from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th.

Wayfair Stock Up 6.0%

NYSE:W opened at $106.43 on Monday. The stock’s 50 day moving average price is $101.93 and its 200 day moving average price is $82.60. The company has a market capitalization of $13.87 billion, a PE ratio of -41.58 and a beta of 3.25. Wayfair has a 52-week low of $20.41 and a 52-week high of $114.92.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Wayfair’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 30,000 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $102.32, for a total value of $3,069,600.00. Following the transaction, the chief executive officer directly owned 439,137 shares of the company’s stock, valued at approximately $44,932,497.84. The trade was a 6.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $102.33, for a total transaction of $3,069,900.00. Following the completion of the sale, the insider owned 439,073 shares of the company’s stock, valued at $44,930,340.09. This trade represents a 6.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,085,959 shares of company stock worth $103,711,474 over the last three months. 21.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors lifted its position in Wayfair by 4.1% in the third quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after purchasing an additional 521,240 shares during the period. Vanguard Group Inc. raised its stake in shares of Wayfair by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,562,050 shares of the company’s stock worth $854,178,000 after buying an additional 397,572 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after buying an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP lifted its holdings in shares of Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after buying an additional 1,200,000 shares during the period. Finally, Spruce House Investment Management LLC boosted its stake in shares of Wayfair by 37.6% in the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock valued at $153,420,000 after buying an additional 819,615 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.