Wayfair’s (W) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Wayfair Inc. (NYSE:W) in a report released on Wednesday morning. The brokerage currently has a $82.00 price target on the stock. Wedbush also issued estimates for Wayfair’s Q3 2017 earnings at ($0.70) EPS, Q4 2017 earnings at ($0.37) EPS, FY2017 earnings at ($2.19) EPS, FY2018 earnings at ($1.27) EPS, FY2019 earnings at ($0.02) EPS and FY2020 earnings at $1.17 EPS.

W has been the subject of several other reports. Gordon Haskett lowered Wayfair from a buy rating to an accumulate rating and boosted their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, June 27th. Stifel Nicolaus upgraded Wayfair from a hold rating to a buy rating and boosted their target price for the company from $75.00 to $78.00 in a research note on Friday, August 25th. Ifs Securities began coverage on Wayfair in a research note on Friday, September 1st. They issued an outperform rating and a $85.00 target price on the stock. Robert W. Baird restated a hold rating and issued a $73.00 target price on shares of Wayfair in a research note on Thursday, September 28th. Finally, Buckingham Research restated a buy rating and issued a $95.00 target price on shares of Wayfair in a research note on Thursday, August 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Wayfair has a consensus rating of Buy and an average target price of $77.07.

Shares of Wayfair (NYSE:W) opened at 68.99 on Wednesday. Wayfair has a 52-week low of $27.60 and a 52-week high of $84.19. The stock has a 50 day moving average of $73.00 and a 200-day moving average of $65.13. The stock’s market capitalization is $6.01 billion.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned ($0.43) EPS. Wayfair’s quarterly revenue was up 42.7% compared to the same quarter last year. On average, equities research analysts predict that Wayfair will post ($1.45) EPS for the current fiscal year.

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In related news, insider Steven Conine sold 55,000 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $76.63, for a total value of $4,214,650.00. Following the sale, the insider now owns 55,000 shares in the company, valued at approximately $4,214,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Romero Rodrigues sold 374 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $76.21, for a total value of $28,502.54. Following the completion of the sale, the director now owns 9,809 shares in the company, valued at approximately $747,543.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 764,451 shares of company stock worth $56,262,879. Company insiders own 56.93% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake in Wayfair by 96.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after acquiring an additional 667 shares during the period. UBS Group AG raised its stake in Wayfair by 55.5% in the 1st quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after acquiring an additional 960 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Wayfair in the 1st quarter valued at $110,000. FNY Partners Fund LP raised its stake in Wayfair by 2,900.0% in the 1st quarter. FNY Partners Fund LP now owns 3,000 shares of the company’s stock valued at $121,000 after acquiring an additional 2,900 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in Wayfair in the 1st quarter valued at $137,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

Analyst Recommendations for Wayfair (NYSE:W)

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