Wayfair’s (W) “Outperform” Rating Reaffirmed at Wedbush
Wayfair Inc. (NYSE:W)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued on Wednesday. They currently have a $82.00 price target on the stock. Wedbush’s target price indicates a potential upside of 12.28% from the stock’s current price.
Several other research firms have also recently weighed in on W. Wolfe Research reissued an “outperform” rating on shares of Wayfair in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Wayfair in a report on Friday, September 29th. BidaskClub cut Wayfair from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Ifs Securities started coverage on Wayfair in a report on Friday, September 1st. They set an “outperform” rating and a $85.00 price target on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $89.00 price target on shares of Wayfair in a report on Friday, September 8th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $75.57.
Shares of Wayfair (W) traded up 0.32% during mid-day trading on Wednesday, hitting $73.03. The company’s stock had a trading volume of 1,374,322 shares. The stock’s 50 day moving average price is $72.87 and its 200 day moving average price is $64.82. The company’s market cap is $6.37 billion. Wayfair has a 52-week low of $27.60 and a 52-week high of $84.19.
Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.43. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The company’s revenue was up 42.7% compared to the same quarter last year. During the same period last year, the business posted ($0.43) EPS. Equities analysts forecast that Wayfair will post ($1.45) EPS for the current year.
In other Wayfair news, CFO Michael D. Fleisher sold 4,730 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $65.80, for a total transaction of $311,234.00. Following the sale, the chief financial officer now directly owns 45,580 shares of the company’s stock, valued at $2,999,164. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael D. Fleisher sold 4,719 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $82.35, for a total value of $388,609.65. Following the sale, the chief financial officer now directly owns 50,844 shares in the company, valued at $4,187,003.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 764,451 shares of company stock worth $56,265,553. 56.93% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in shares of Wayfair during the second quarter valued at about $27,345,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Wayfair during the second quarter valued at about $277,000. Verition Fund Management LLC purchased a new position in shares of Wayfair during the second quarter valued at about $251,000. California State Teachers Retirement System grew its position in shares of Wayfair by 10.0% during the second quarter. California State Teachers Retirement System now owns 68,366 shares of the company’s stock valued at $5,256,000 after purchasing an additional 6,224 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Wayfair during the second quarter valued at about $3,466,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.
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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