Wayfair (NYSE:W) Price Target Raised to $130.00

Wayfair (NYSE:W) had its price objective upped by Wells Fargo & Company from $100.00 to $130.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Benchmark initiated coverage on shares of Wayfair in a research report on Tuesday, July 7th. They set a “hold” rating on the stock. Robert W. Baird set a $76.00 target price on shares of Wayfair in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $108.00 target price on shares of Wayfair in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.04.

Wayfair Trading Up 2.7%

Wayfair stock opened at $106.91 on Wednesday. The stock has a 50-day moving average price of $87.39 and a 200 day moving average price of $81.99. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market cap of $14.11 billion, a PE ratio of -43.46, a P/E/G ratio of 5.60 and a beta of 2.99.

Wayfair (NYSE:W) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that Wayfair will post 0.62 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the transaction, the insider owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wayfair by 29.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Prudential Financial Inc. increased its position in Wayfair by 30.4% during the 2nd quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock worth $375,000 after purchasing an additional 1,710 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after buying an additional 270 shares during the period. M&T Bank Corp purchased a new position in Wayfair in the second quarter valued at approximately $262,000. Finally, EverSource Wealth Advisors LLC lifted its position in Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Analyst optimism increased. BMO, UBS and Wedbush issued positive forecasts, while Needham raised its price target to $133 and Wells Fargo lifted its target to $130. RBC also expects further appreciation, reinforcing bullish sentiment after the earnings report. BMO Capital Markets Forecasts Strong Price Appreciation for Wayfair Needham Raises Wayfair Price Target Wells Fargo Boosts Wayfair Price Target
• Positive Sentiment: Better-than-expected Q2 results remain the primary catalyst. Wayfair reported adjusted EPS of $0.95 versus a $0.90 consensus estimate and revenue of $3.52 billion versus expectations of $3.47 billion. Revenue increased 7.5% year over year, raising investor expectations that sustained growth and cost controls could move the company closer to consistent profitability. Wayfair Shares Gap Up on Earnings Beat Wayfair Q2 Results Beat Forecasts
• Positive Sentiment: Expansion into physical retail could broaden customer reach. Wayfair plans to open outlet stores in Dublin, Ohio, and North Hills, Pennsylvania, giving the online furniture retailer additional channels to sell inventory and attract shoppers. Wayfair Outlet to Open in Dublin Wayfair Opening North Hills Store
• Neutral Sentiment: Reports indicate affluent consumers are supporting Wayfair’s profit gains despite economic uncertainty, while the company is finding growth in weaker housing markets. This supports demand resilience but may leave the business exposed if higher-income consumer spending slows. Rich Consumers Drive Wayfair Profit Gains
• Negative Sentiment: A nationwide recall involving furniture sold through Wayfair after a toddler was injured creates a potential reputational, customer-safety and liability risk, although the direct financial impact is not yet clear. Nationwide Furniture Recall

About Wayfair

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.