Wayfair (NYSE:W) Stock Rating Reaffirmed by Wedbush

Wayfair (NYSE:W)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Monday, Benzinga reports. They presently have a $70.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 21.21% from the company’s current price.

W has been the subject of several other reports. Loop Capital increased their price objective on Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Barclays lowered their price target on Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, January 4th. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Finally, Truist Financial cut their price target on shares of Wayfair from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Ten analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.03.

Wayfair Trading Up 5.5 %

Shares of Wayfair stock opened at $57.75 on Monday. Wayfair has a 52 week low of $29.51 and a 52 week high of $90.71. The company’s 50-day moving average price is $59.60 and its two-hundred day moving average price is $55.08. The stock has a market cap of $6.95 billion, a PE ratio of -8.86 and a beta of 3.29.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, equities analysts predict that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the sale, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,808 shares of company stock valued at $5,445,222. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in shares of Wayfair in the 1st quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wayfair during the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Wayfair in the 4th quarter valued at $31,000. BluePath Capital Management LLC acquired a new position in shares of Wayfair during the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Wayfair during the third quarter worth $34,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

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.