Wayfair Inc. (NYSE:W) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Wayfair Inc. (NYSE:W) have received an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $56.81.

W has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price objective on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Wedbush reaffirmed a “neutral” rating and set a $46.00 price target (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Loop Capital reduced their target price on shares of Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, Jefferies Financial Group upgraded shares of Wayfair from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Friday, March 7th.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the transaction, the insider now owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kate Gulliver sold 5,974 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the transaction, the chief financial officer now directly owns 129,964 shares of the company’s stock, valued at approximately $5,841,881.80. This trade represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,189 shares of company stock worth $4,810,693. 26.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently modified their holdings of W. Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair in the third quarter valued at $78,652,000. Holocene Advisors LP grew its holdings in Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the period. Capital World Investors increased its stake in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after acquiring an additional 740,641 shares during the period. Finally, Norges Bank acquired a new stake in shares of Wayfair in the fourth quarter worth approximately $31,472,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Price Performance

W stock opened at $33.84 on Friday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -8.42 and a beta of 3.44. The company has a fifty day moving average price of $41.29 and a 200 day moving average price of $45.27. Wayfair has a 12 month low of $29.68 and a 12 month high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. As a group, analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

About Wayfair

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.