Wayfair (NYSE:W) Given New $130.00 Price Target at Raymond James Financial

Wayfair (NYSE:W) had its target price increased by Raymond James Financial from $90.00 to $130.00 in a report published on Wednesday morning,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Mizuho raised their price target on Wayfair from $88.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $75.00 price target on Wayfair in a research report on Friday, October 24th. Guggenheim boosted their price objective on Wayfair from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price target on Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Jefferies Financial Group boosted their price target on Wayfair from $91.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price of $100.25.

Wayfair Price Performance

W opened at $103.54 on Wednesday. The business’s 50-day moving average is $83.66 and its two-hundred day moving average is $61.33. Wayfair has a 1 year low of $20.41 and a 1 year high of $108.72. The firm has a market capitalization of $13.42 billion, a PE ratio of -40.44 and a beta of 3.03.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Wayfair’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. As a group, sell-side analysts expect that Wayfair will post -2.54 EPS for the current year.

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the sale, the chief executive officer owned 544,137 shares in the company, valued at $42,660,340.80. This represents a 26.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 199,473 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $42,655,323.20. This trade represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,260,000 shares of company stock worth $103,696,337. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several large investors have recently bought and sold shares of W. True Wealth Design LLC increased its holdings in Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the period. Global Retirement Partners LLC increased its holdings in Wayfair by 156.3% during the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC increased its holdings in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after purchasing an additional 609 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after purchasing an additional 653 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after purchasing an additional 1,097 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.