Wayfair’s (W) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Wayfair (NYSE:W) in a research note released on Monday morning,Benzinga reports. The firm currently has a $60.00 price target on the stock.

Several other equities research analysts have also weighed in on W. BMO Capital Markets upped their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Truist Financial lowered their price objective on shares of Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Wedbush restated a “neutral” rating and set a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research report on Friday, February 21st. Fourteen 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Trading Down 4.4 %

Shares of W stock opened at $33.47 on Monday. The firm’s fifty day simple moving average is $44.39 and its 200 day simple moving average is $46.20. Wayfair has a 1 year low of $32.41 and a 1 year high of $76.18. The firm has a market capitalization of $4.25 billion, a P/E ratio of -8.32 and a beta of 3.44.

Wayfair (NYSE:W) last announced 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 during the quarter, compared to the consensus estimate of $3.07 billion. Equities research analysts anticipate that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,228 shares of company stock worth $6,235,818 over the last ninety days. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in W. Tabor Asset Management LP grew its stake in shares of Wayfair by 11.3% in the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after buying an additional 15,932 shares in the last quarter. Groupama Asset Managment lifted its stake in Wayfair by 100.0% in the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Wayfair in the 4th quarter valued at about $6,799,000. Wellington Management Group LLP increased its stake in shares of Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Wayfair in the 3rd quarter valued at about $1,070,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

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.