Wayfair Inc. (NYSE:W) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus rating of “Moderate Buy” from the thirty-one ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $100.3571.

A number of equities analysts have recently commented on the company. The Goldman Sachs Group set a $79.00 price target on Wayfair in a report on Friday, May 1st. Wells Fargo & Company reduced their price objective on Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Truist Financial set a $99.00 target price on Wayfair in a research report on Monday, June 8th. Jefferies Financial Group lowered their target price on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Finally, Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Wayfair in a report on Wednesday, May 20th.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 113,863 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total value of $8,823,243.87. Following the sale, the chief executive officer owned 435,274 shares in the company, valued at $33,729,382.26. This trade represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 245,925 shares of company stock worth $19,183,749 in the last three months. 18.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of W. Webster Bank N. A. acquired a new stake in shares of Wayfair during the 4th quarter valued at $30,000. V Square Quantitative Management LLC acquired a new position in Wayfair in the 4th quarter worth about $33,000. Piper Sandler & CO. acquired a new position in Wayfair in the 4th quarter worth about $34,000. Havemeyer Place LP bought a new position in Wayfair in the fourth quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of NYSE:W opened at $91.37 on Friday. The company’s 50 day simple moving average is $78.35 and its 200 day simple moving average is $83.65. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of -39.05, a price-to-earnings-growth ratio of 4.82 and a beta of 2.96. Wayfair has a 1 year low of $55.01 and a 1 year high of $119.98.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, analysts anticipate that Wayfair will post 0.63 EPS for the current fiscal 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.