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

Wayfair Inc. (NYSE:W) has been assigned an average recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the firm, MarketBeat reports. One research analyst has 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 updated their coverage on the stock in the last year is $99.8929.

A number of analysts have recently weighed in on the company. Robert W. Baird set a $76.00 price objective on Wayfair in a research report on Monday, May 4th. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Wayfair in a research note on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research note on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on shares of Wayfair from $114.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Finally, UBS Group lowered their target price on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Multiple outlets highlighted deep Wayfair promotions on patio furniture, mattresses, sofas, storage sheds, quilts, and other home goods, with discounts reaching as high as 80% off. Wayfair’s Memorial Day sale ends tonight. Save up to 77% off patio sets, mattresses, sofas & more
• Positive Sentiment: Coverage of “secret outlet” and clearance-level pricing on patio deals and outdoor chairs points to heavy deal traffic and strong promotional visibility for Wayfair. Wayfair just filled its secret outlet with even more patio deals—and we handpicked the 10 best up to 52% off
• Positive Sentiment: Media mentions of a “soaring” move in Wayfair shares alongside Carvana suggest momentum traders are paying attention to the stock after the sale-related news flow. Wayfair and Carvana shares are soaring, what you need to know
• Neutral Sentiment: Several lifestyle articles promoted specific Wayfair products and gift ideas, reinforcing brand awareness but offering little direct evidence of earnings impact. 30 Father’s Day gifts from Wayfair that they’ll probably use for years
• Neutral Sentiment: More product roundups featuring steep markdowns on furniture and decor may help traffic, but they mostly reflect ongoing promotional activity rather than new fundamentals. Wayfair Is Selling a $660 Velvet Sofa That Doubles as a Guest Bed for $200 Right Now
• Neutral Sentiment: Articles noting the end of Wayfair’s Memorial Day sale underscore urgency for shoppers, but also imply the promotional event is temporary. Wayfair’s Memorial Day sale ends tonight — get up to 80% off 1,000s of items

Insider Buying and Selling

In related news, Director Steven Conine sold 112,861 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total transaction of $8,746,727.50. Following the completion of the transaction, the director owned 436,212 shares in the company, valued at approximately $33,806,430. The trade was a 20.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total transaction of $345,790.10. Following the transaction, the insider owned 111,158 shares of the company’s stock, valued at approximately $8,024,496.02. The trade was a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 463,785 shares of company stock worth $35,864,224. Corporate insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wayfair by 29.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after acquiring an additional 15,084 shares in the last quarter. Prudential Financial Inc. boosted its stake in Wayfair by 30.4% in the second quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock valued at $375,000 after acquiring an additional 1,710 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock valued at $126,000 after acquiring an additional 270 shares in the last quarter. M&T Bank Corp acquired a new position in Wayfair in the second quarter valued at $262,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after acquiring an additional 653 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Trading Up 1.6%

Wayfair stock opened at $73.04 on Thursday. Wayfair has a twelve month low of $39.90 and a twelve month high of $119.98. The stock’s fifty day simple moving average is $71.32 and its 200-day simple moving average is $88.29. The firm has a market capitalization of $9.64 billion, a P/E ratio of -31.21, a P/E/G ratio of 4.11 and a beta of 3.02.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Wayfair will post 0.58 earnings per share for the current year.

About Wayfair

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.