Wayfair Inc. (NYSE:W)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a note issued to investors on Thursday. They presently have a $90.00 price objective on the stock. Canaccord Genuity’s price objective suggests a potential upside of 28.76% from the stock’s previous close.

A number of other research firms have also commented on W. Wolfe Research reaffirmed an “outperform” rating on shares of Wayfair in a research report on Wednesday, August 9th. KeyCorp reaffirmed a “hold” rating on shares of Wayfair in a research report on Friday, September 29th. BidaskClub lowered Wayfair from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Ifs Securities initiated coverage on Wayfair in a research report on Friday, September 1st. They set an “outperform” rating and a $85.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $89.00 price target on shares of Wayfair in a research report on Friday, September 8th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $77.51.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.18). The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.54) EPS.

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In related news, SVP Steve Oblak sold 805 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $70.68, for a total value of $56,897.40. Following the transaction, the senior vice president now directly owns 120,534 shares of the company’s stock, valued at approximately $8,519,343.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James Savarese sold 37,437 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $80.15, for a total value of $3,000,575.55. Following the completion of the transaction, the chief operating officer now directly owns 552,663 shares in the company, valued at $44,295,939.45. The disclosure for this sale can be found here. Insiders sold a total of 460,348 shares of company stock worth $32,981,158 over the last ninety days. 56.93% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in Wayfair by 0.7% in the 4th quarter. Diversified Trust Co now owns 8,245 shares of the company’s stock worth $393,000 after purchasing an additional 60 shares during the period. Russell Frank Co raised its holdings in Wayfair by 72.5% in the 4th quarter. Russell Frank Co now owns 95,996 shares of the company’s stock worth $4,697,000 after purchasing an additional 40,358 shares during the period. California State Teachers Retirement System raised its holdings in Wayfair by 1.7% in the 4th quarter. California State Teachers Retirement System now owns 37,171 shares of the company’s stock worth $1,770,000 after purchasing an additional 632 shares during the period. Northeast Investment Management raised its holdings in Wayfair by 1,045.4% in the 4th quarter. Northeast Investment Management now owns 83,485 shares of the company’s stock worth $3,976,000 after purchasing an additional 76,196 shares during the period. Finally, First Trust Advisors LP bought a new position in Wayfair in the 4th quarter worth $2,895,000. 66.24% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.

Analyst Recommendations for Wayfair (NYSE:W)

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