Wayfair (NYSE:W)‘s stock had its “buy” rating reiterated by Piper Jaffray Companies in a report released on Wednesday. They presently have a $89.00 price target on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 22.84% from the company’s previous close.

Several other research analysts also recently commented on the company. Stifel Nicolaus upgraded Wayfair from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $78.00 in a report on Friday, August 25th. Oppenheimer reiterated a “buy” rating and issued a $88.00 price objective on shares of Wayfair in a report on Wednesday, September 13th. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, September 5th. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price objective on shares of Wayfair in a report on Thursday, November 2nd. Finally, Cowen reiterated a “buy” rating and issued a $72.00 price objective (down previously from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Wayfair currently has an average rating of “Buy” and a consensus target price of $76.01.

Wayfair (W) traded down $2.14 during midday trading on Wednesday, reaching $72.45. The company’s stock had a trading volume of 935,600 shares, compared to its average volume of 1,535,423. Wayfair has a twelve month low of $34.30 and a twelve month high of $84.19. The company has a current ratio of 1.19, a quick ratio of 1.17 and a debt-to-equity ratio of 135.98.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.03. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted ($0.54) earnings per share. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. analysts predict that Wayfair will post -2.63 EPS for the current fiscal year.

In other Wayfair news, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $79.89, for a total transaction of $47,934.00. Following the sale, the insider now directly owns 500 shares of the company’s stock, valued at approximately $39,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Champlin Mulliken sold 700 shares of Wayfair stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $74.08, for a total value of $51,856.00. Following the sale, the insider now directly owns 52,784 shares in the company, valued at $3,910,238.72. The disclosure for this sale can be found here. Insiders sold 55,351 shares of company stock worth $4,016,558 over the last three months. 56.93% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP bought a new stake in shares of Wayfair in the 4th quarter worth approximately $4,765,000. NJ State Employees Deferred Compensation Plan purchased a new position in Wayfair in the 1st quarter worth approximately $445,000. Utah Retirement Systems purchased a new position in Wayfair in the 2nd quarter worth approximately $539,000. Ameriprise Financial Inc. purchased a new position in Wayfair in the 1st quarter worth approximately $1,650,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in Wayfair in the 2nd quarter worth approximately $738,000. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Wayfair

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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