Wayfair (NYSE:W) Hits New 12-Month High – Time to Buy?

Wayfair Inc. (NYSE:W) reached a new 52-week high on Tuesday . The company traded as high as $118.37 and last traded at $116.9080, with a volume of 270175 shares. The stock had previously closed at $114.84.

Analyst Ratings Changes

Several equities research analysts recently weighed in on W shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a report on Wednesday, October 8th. Evercore ISI lifted their price target on Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group downgraded Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research note on Wednesday, December 3rd. Truist Financial upped their price target on shares of Wayfair from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, BMO Capital Markets set a $110.00 price target on shares of Wayfair and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average price target of $105.29.

Wayfair Price Performance

The stock has a 50 day moving average of $103.20 and a 200 day moving average of $85.68. The firm has a market cap of $15.28 billion, a P/E ratio of -45.76 and a beta of 3.31.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.01 billion. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. On average, research analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 150,000 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the sale, the insider owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. This represents a 17.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the transaction, the chief executive officer directly owned 729,137 shares in the company, valued at approximately $77,222,899.67. This represents a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,127,453 shares of company stock worth $108,127,287 over the last ninety days. Insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Wayfair by 29.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after buying an additional 15,084 shares during the period. Strs Ohio bought a new position in shares of Wayfair during the first quarter valued at about $3,043,000. Rhumbline Advisers raised its stake in shares of Wayfair by 4.3% during the first quarter. Rhumbline Advisers now owns 91,272 shares of the company’s stock valued at $2,923,000 after acquiring an additional 3,725 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Wayfair by 229.0% during the second 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. Finally, Chemistry Wealth Management LLC grew its stake in shares of Wayfair by 9.4% in the second quarter. Chemistry Wealth Management LLC now owns 43,503 shares of the company’s stock worth $2,225,000 after purchasing an additional 3,722 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.