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

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the thirty-one analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $107.2143.

W has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, January 21st. Truist Financial raised their target price on shares of Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Canaccord Genuity Group increased their price target on shares of Wayfair from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $104.00 price objective on shares of Wayfair in a research report on Wednesday, January 14th.

Wayfair Stock Down 0.1%

Wayfair stock opened at $82.41 on Tuesday. Wayfair has a 52 week low of $20.41 and a 52 week high of $119.98. The business has a 50-day simple moving average of $102.59 and a 200 day simple moving average of $93.43. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of -32.19, a PEG ratio of 7.87 and a beta of 3.36.

Insider Buying and Selling at Wayfair

In other news, CTO Fiona Tan sold 9,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $119.00, for a total value of $1,071,000.00. Following the completion of the transaction, the chief technology officer directly owned 200,328 shares in the company, valued at approximately $23,839,032. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $108.87, for a total value of $16,330,500.00. Following the transaction, the chief executive officer owned 289,137 shares in the company, valued at $31,478,345.19. This trade represents a 34.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 950,494 shares of company stock valued at $100,127,813. 21.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Wayfair by 826.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after purchasing an additional 2,512,854 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Wayfair in the 3rd quarter worth $108,125,000. Norges Bank bought a new stake in Wayfair in the fourth quarter worth $117,973,000. AQR Capital Management LLC boosted its position in Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after buying an additional 1,033,865 shares during the period. Finally, Holocene Advisors LP boosted its position in Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after buying an additional 1,007,676 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.