Wayfair (NYSE:W) Price Target Raised to $144.00

Wayfair (NYSE:W) had its target price lifted by Oppenheimer from $100.00 to $144.00 in a report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on W. Bank of America upgraded Wayfair from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 28th. Barclays increased their price target on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Argus upped their price objective on shares of Wayfair from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wedbush reiterated a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Finally, Needham & Company LLC increased their target price on Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $105.57.

Wayfair Price Performance

Shares of W opened at $102.05 on Wednesday. Wayfair has a 1-year low of $20.41 and a 1-year high of $114.92. The company has a market capitalization of $13.30 billion, a P/E ratio of -39.86 and a beta of 3.03. The firm’s 50 day simple moving average is $90.26 and its 200 day simple moving average is $67.54.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, equities analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 9,612 shares of Wayfair stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $102.20, for a total transaction of $982,346.40. Following the sale, the chief financial officer directly owned 175,497 shares in the company, valued at $17,935,793.40. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.09, for a total value of $3,152,700.00. Following the completion of the sale, the insider directly owned 139,073 shares in the company, valued at approximately $14,615,181.57. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 825,959 shares of company stock valued at $70,097,674. 21.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its stake in shares of Wayfair by 28,200.0% in the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares during the last quarter. True Wealth Design LLC raised its position in Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after buying an additional 233 shares during the last quarter. Global Retirement Partners LLC raised its position in Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after acquiring an additional 653 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Wayfair by 56.5% during the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after acquiring an additional 229 shares during the last quarter. 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.