Wayfair (NYSE:W) Given New $135.00 Price Target at Argus

Wayfair (NYSE:W) had its price target hoisted by analysts at Argus from $125.00 to $135.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Argus‘s target price suggests a potential upside of 18.29% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Deutsche Bank upped their target price on Wayfair from $120.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Wayfair from $125.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a report on Monday, September 14th. Finally, Wells Fargo & Company upped their price objective on shares of Wayfair from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.68.

Wayfair Price Performance

W stock opened at $114.13 on Thursday. Wayfair has a 1 year low of $55.60 and a 1 year high of $127.99. The firm has a market capitalization of $15.06 billion, a PE ratio of -91.30, a price-to-earnings-growth ratio of 5.10 and a beta of 3.10. The business has a 50 day simple moving average of $106.82 and a 200-day simple moving average of $89.26.

Wayfair (NYSE:W) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. On average, equities research analysts expect that Wayfair will post 0.97 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $122.73, for a total value of $859,110.00. Following the sale, the chief technology officer owned 181,698 shares of the company’s stock, valued at $22,299,795.54. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 500 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the transaction, the insider owned 115,385 shares in the company, valued at $13,846,200. This trade represents a 0.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 554,070 shares of company stock worth $59,832,364 over the last quarter. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of W. Resona Asset Management Co. Ltd. purchased a new stake in shares of Wayfair in the 3rd quarter valued at $34,000. Heritage Family Offices LLP acquired a new position in Wayfair during the 3rd quarter worth about $45,000. Fortitude Family Office LLC lifted its stake in Wayfair by 144.7% during the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after acquiring an additional 272 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in Wayfair during the 3rd quarter valued at about $53,000. Finally, IFP Advisors Inc boosted its holdings in Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after acquiring an additional 358 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc. is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares. The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets. Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.