Jefferies Financial Group Issues Positive Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its target price hoisted by Jefferies Financial Group from $74.00 to $91.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Royal Bank Of Canada boosted their price target on Wayfair from $25.00 to $51.00 and gave the company a “sector perform” rating in a report on Tuesday, August 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Wayfair in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on Wayfair from $31.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Wells Fargo & Company set a $84.00 price target on Wayfair and gave the company an “overweight” rating in a report on Tuesday, August 5th. Finally, TD Cowen upgraded Wayfair from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.65.

Wayfair Trading Up 1.3%

Shares of NYSE:W opened at $79.9770 on Wednesday. Wayfair has a 12-month low of $20.41 and a 12-month high of $81.94. The company has a market capitalization of $10.37 billion, a PE ratio of -33.32 and a beta of 2.92. The business has a 50 day moving average of $61.06 and a two-hundred day moving average of $44.86.

Wayfair (NYSE:W) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jon Blotner sold 13,857 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total value of $782,227.65. Following the completion of the sale, the insider directly owned 91,263 shares in the company, valued at $5,151,796.35. The trade was a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 199,473 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the sale, the insider owned 544,073 shares of the company’s stock, valued at $42,655,323.20. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,215,789 shares of company stock worth $73,975,995 over the last three months. 21.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several large investors have recently made changes to their positions in W. Alyeska Investment Group L.P. increased its position in shares of Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after purchasing an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP increased its position in shares of Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after purchasing an additional 1,400,000 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after purchasing an additional 1,033,865 shares in the last quarter. Holocene Advisors LP increased its position in shares of Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after purchasing an additional 1,007,676 shares in the last quarter. Finally, Spruce House Investment Management LLC increased its position in shares of Wayfair by 37.6% during the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after purchasing an additional 819,615 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.