Wayfair Inc. (NYSE:W) Receives Consensus Rating of “Moderate Buy” from Analysts

Wayfair Inc. (NYSE:W) has earned a consensus recommendation of “Moderate Buy” from the thirty-two ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $105.2857.

A number of brokerages recently weighed in on W. Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of Wayfair in a research report on Friday, October 24th. Citigroup lifted their target price on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Wayfair from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Canaccord Genuity Group raised their price target on Wayfair from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Wayfair in a research report on Friday, November 21st.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 150,000 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the insider directly owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. This trade represents a 17.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 150,000 shares of Wayfair stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the completion of the transaction, the chief executive officer owned 729,137 shares in the company, valued at approximately $77,222,899.67. This represents a 17.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 955,959 shares of company stock worth $88,260,274. Insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC increased its position in Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 282 shares during the period. True Wealth Design LLC lifted its position in Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares during the period. Global Retirement Partners LLC grew its stake in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after purchasing an additional 120 shares during the period. Finally, Comerica Bank increased its holdings in shares of Wayfair by 56.5% in the third quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Down 5.9%

Shares of Wayfair stock opened at $95.44 on Thursday. Wayfair has a 52 week low of $20.41 and a 52 week high of $114.92. The firm’s 50 day moving average is $94.78 and its two-hundred day moving average is $74.14. The firm has a market capitalization of $12.44 billion, a P/E ratio of -37.28 and a beta of 3.25.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, research analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.