Wayfair (NYSE:W) Trading 8.5% Higher – What’s Next?

Wayfair Inc. (NYSE:W) shares traded up 8.5% during trading on Monday . The stock traded as high as $91.42 and last traded at $91.36. 436,446 shares changed hands during trading, a decline of 88% from the average daily volume of 3,705,489 shares. The stock had previously closed at $84.18.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on W shares. Morgan Stanley set a $110.00 price target on shares of Wayfair in a research note on Friday, May 1st. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Wayfair in a research note on Wednesday, May 20th. UBS Group decreased their price objective on Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Needham & Company LLC lowered their target price on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Wedbush began coverage on Wayfair in a report on Thursday, July 16th. They set a “neutral” rating and a $104.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and a consensus target price of $100.36.

Wayfair Price Performance

The company’s 50-day simple moving average is $81.25 and its 200-day simple moving average is $82.93. The stock has a market capitalization of $12.23 billion, a P/E ratio of -39.61, a price-to-earnings-growth ratio of 4.66 and a beta of 2.96.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts forecast that Wayfair Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its stake in Wayfair by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company’s stock valued at $3,188,000 after buying an additional 3,400 shares during the period. Chemistry Wealth Management LLC boosted its stake in shares of Wayfair by 5.9% during the 2nd quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company’s stock worth $4,193,000 after acquiring an additional 2,534 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after acquiring an additional 242,791 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Wayfair by 34.5% during the 2nd quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock worth $315,000 after acquiring an additional 874 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Wayfair by 67.7% in the 1st quarter. Empowered Funds LLC now owns 6,829 shares of the company’s stock valued at $514,000 after acquiring an additional 2,758 shares during the period. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.