Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “

Several other research firms have also recently weighed in on W. Credit Suisse Group began coverage on Wayfair in a report on Wednesday. They issued a “neutral” rating and a $40.00 price objective for the company. Canaccord Genuity reiterated a “buy” rating and issued a $55.00 price objective on shares of Wayfair in a report on Tuesday, October 4th. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of Wayfair in a report on Tuesday. Vetr upgraded Wayfair from a “buy” rating to a “strong-buy” rating and set a $42.28 price objective for the company in a report on Wednesday, September 14th. Finally, KeyCorp restated a “hold” rating on shares of Wayfair in a research note on Tuesday, November 8th. Fourteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.62.

Analyst Recommendations for Wayfair (NYSE:W)

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Shares of Wayfair (NYSE:W) traded down 0.66% on Wednesday, hitting $40.77. The company had a trading volume of 866,282 shares. Wayfair has a 52 week low of $27.60 and a 52 week high of $49.34. The stock’s market capitalization is $3.49 billion. The firm’s 50 day moving average price is $36.80 and its 200-day moving average price is $38.19.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.05. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. The business earned $861.50 million during the quarter, compared to analysts’ expectations of $849.42 million. During the same quarter last year, the business posted ($0.13) EPS. The business’s revenue was up 45.0% on a year-over-year basis. Analysts forecast that Wayfair will post ($1.83) earnings per share for the current fiscal year.

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In other Wayfair news, CFO Michael D. Fleisher sold 4,618 shares of Wayfair stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $38.03, for a total value of $175,622.54. Following the completion of the sale, the chief financial officer now owns 51,242 shares of the company’s stock, valued at approximately $1,948,733.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edmond Macri sold 795 shares of Wayfair stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $34.32, for a total value of $27,284.40. Following the completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $34,320. The disclosure for this sale can be found here. 63.94% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Credit Suisse AG raised its stake in Wayfair by 450.0% in the third quarter. Credit Suisse AG now owns 157,898 shares of the company’s stock worth $6,216,000 after buying an additional 129,187 shares during the last quarter. DF Dent & Co. Inc. acquired a new stake in Wayfair during the third quarter worth approximately $483,000. Verition Fund Management LLC acquired a new stake in Wayfair during the third quarter worth approximately $206,000. Eaton Vance Management acquired a new stake in Wayfair during the third quarter worth approximately $921,000. Finally, Whale Rock Capital Management LLC raised its stake in Wayfair by 4.9% in the third quarter. Whale Rock Capital Management LLC now owns 425,751 shares of the company’s stock worth $16,762,000 after buying an additional 20,024 shares during the last quarter. 70.85% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.

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