Wayfair (W) Receives “Market Perform” Rating from William Blair

Wayfair (NYSE:W)‘s stock had its “market perform” rating restated by analysts at William Blair in a note issued to investors on Monday.

W has been the topic of a number of other research reports. Loop Capital set a $155.00 price target on shares of Wayfair and gave the company a “buy” rating in a report on Monday, September 10th. Canaccord Genuity reiterated a “buy” rating and issued a $165.00 price objective (up previously from $140.00) on shares of Wayfair in a research note on Friday, September 28th. MKM Partners increased their price objective on shares of Wayfair from $130.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Robert W. Baird lowered their price objective on shares of Wayfair from $118.00 to $108.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.06.

Shares of W stock opened at $93.41 on Monday. Wayfair has a one year low of $57.89 and a one year high of $151.20. The stock has a market cap of $8.38 billion, a P/E ratio of -33.36 and a beta of 1.84.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, November 1st. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The firm’s revenue was up 42.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. As a group, equities analysts predict that Wayfair will post -5.57 earnings per share for the current fiscal year.

In other news, COO James Savarese sold 99,570 shares of Wayfair stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $150.18, for a total transaction of $14,953,422.60. Following the sale, the chief operating officer now owns 458,056 shares in the company, valued at $68,790,850.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $122.32, for a total transaction of $73,392.00. Following the sale, the insider now owns 58,208 shares in the company, valued at approximately $7,120,002.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,754 shares of company stock worth $60,020,159. Company insiders own 37.75% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Spruce House Investment Management LLC purchased a new position in shares of Wayfair in the first quarter valued at $101,225,000. Scopia Capital Management LP purchased a new position in shares of Wayfair in the second quarter valued at $252,032,000. Carmignac Gestion grew its holdings in shares of Wayfair by 230.3% in the first quarter. Carmignac Gestion now owns 2,661,902 shares of the company’s stock valued at $179,758,000 after purchasing an additional 1,855,970 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Wayfair in the third quarter valued at $81,855,000. Finally, Columbia Wanger Asset Management LLC purchased a new position in shares of Wayfair in the first quarter valued at $42,729,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Analyst Recommendations for Wayfair (NYSE:W)

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