Wayfair Inc. (W) Given Consensus Rating of “Buy” by Analysts
Wayfair Inc. (NYSE:W) has earned an average recommendation of “Buy” from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $70.45.
W has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, April 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $87.00 price objective (up previously from $70.00) on shares of Wayfair in a research note on Wednesday, June 14th. Maxim Group boosted their price objective on shares of Wayfair from $53.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. CIBC raised shares of Wayfair from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Finally, Bank of America Corporation raised shares of Wayfair from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $75.00 in a research note on Tuesday, May 9th.
In other Wayfair news, COO James Savarese sold 21,663 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.32, for a total transaction of $1,739,972.16. Following the transaction, the chief operating officer now directly owns 533,821 shares of the company’s stock, valued at approximately $42,876,502.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 45,000 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $67.63, for a total transaction of $3,043,350.00. Following the transaction, the insider now directly owns 140,268 shares in the company, valued at $9,486,324.84. The disclosure for this sale can be found here. Insiders have sold a total of 834,559 shares of company stock valued at $61,899,757 over the last quarter. 56.93% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. First Personal Financial Services increased its stake in Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock worth $100,000 after buying an additional 325 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock worth $105,000 after buying an additional 667 shares in the last quarter. UBS Group AG increased its stake in Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock worth $109,000 after buying an additional 960 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Wayfair during the first quarter worth $110,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Wayfair by 9.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock worth $114,000 after buying an additional 247 shares in the last quarter.
Shares of Wayfair (W) traded up 2.29% on Tuesday, hitting $67.51. 872,836 shares of the company’s stock were exchanged. The firm’s market cap is $5.89 billion. The stock’s 50 day moving average is $74.52 and its 200 day moving average is $57.34. Wayfair has a 12 month low of $27.60 and a 12 month high of $82.19.
Wayfair (NYSE:W) last posted its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.43. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The company’s revenue was up 42.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. On average, equities analysts predict that Wayfair will post ($1.46) earnings per share for the current year.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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