Wayfair (NYSE:W) Price Target Raised to $136.00

Wayfair (NYSE:W) had its price objective lifted by JPMorgan Chase & Co. from $125.00 to $136.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Wayfair in a research report on Wednesday, August 5th. Guggenheim lifted their target price on Wayfair from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $120.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Wayfair in a research note on Tuesday, September 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Wayfair in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.12.

Wayfair Price Performance

NYSE:W opened at $122.82 on Monday. The stock has a market cap of $16.21 billion, a P/E ratio of 227.18, a PEG ratio of 3.84 and a beta of 3.10. Wayfair has a one year low of $55.60 and a one year high of $127.99. The company has a fifty day moving average price of $105.55 and a 200 day moving average price of $89.17.

Wayfair (NYSE:W) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, equities research analysts anticipate that Wayfair will post 0.97 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $115.00, for a total value of $920,000.00. Following the sale, the chief technology officer owned 196,698 shares of the company’s stock, valued at $22,620,270. The trade was a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the completion of the transaction, the director owned 105,073 shares of the company’s stock, valued at approximately $11,689,371.25. This represents a 52.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 677,070 shares of company stock worth $72,236,934. Corporate insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after buying an additional 296,233 shares in the last quarter. Atreides Management LP raised its stake in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after acquiring an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Wayfair by 46.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after acquiring an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after acquiring an additional 242,791 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock worth $23,377,000 after acquiring an additional 5,586 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year and ahead of estimates. Earnings of $0.93 per share also topped consensus, while coverage described the quarter as the company’s strongest growth period since the pandemic. CNBC report on Wayfair Q3 results
• Positive Sentiment: U.S. revenue rose 11.4% to $3.0 billion, and reports highlighted market-share gains in a sluggish home-furnishings market. Analysts also pointed to stronger profitability, with one report describing the quarter’s margin as Wayfair’s best in six years. Why Wayfair stock is up
• Positive Sentiment: Gordon Haskett upgraded Wayfair from “hold” to “buy” and set a $160 price target, adding to the positive reaction to the earnings report. Gordon Haskett rating information
• Neutral Sentiment: A broad rally in U.S. stocks provided a supportive market backdrop, though Wayfair’s earnings and growth news appear to be the more company-specific drivers. Market rally report
• Negative Sentiment: International revenue declined 2.3% to $380 million, contrasting with U.S. growth and showing that the recovery remains uneven across markets. Wayfair Q3 results release

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.