Wayfair (NYSE:W) Price Target Raised to $125.00

Wayfair (NYSE:W) had its target price upped by Wedbush from $85.00 to $125.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

W has been the topic of several other reports. Citigroup lowered their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Truist Financial boosted their price target on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings raised Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Benchmark began coverage on Wayfair in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group lowered their price target on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.04.

Wayfair Trading Up 2.7%

NYSE W opened at $106.91 on Wednesday. The company has a 50-day moving average price of $87.39 and a two-hundred day moving average price of $81.99. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of -43.46, a price-to-earnings-growth ratio of 5.60 and a beta of 2.99.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts expect that Wayfair will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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. 18.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently made changes to their positions in W. Covenant Asset Management LLC purchased a new position in shares of Wayfair in the fourth quarter worth approximately $4,403,000. North Dakota State Investment Board acquired a new stake in shares of Wayfair during the fourth quarter valued at approximately $3,636,000. Vanguard Group Inc. lifted its position in shares of Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after acquiring an additional 72,707 shares in the last quarter. M&T Bank Corp lifted its position in shares of Wayfair by 3,713.2% in the 4th quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock valued at $16,920,000 after acquiring an additional 164,086 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Wayfair in the 4th quarter worth approximately $48,004,000. Institutional investors own 89.67% of the company’s stock.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Analyst optimism increased. BMO, UBS and Wedbush issued positive forecasts, while Needham raised its price target to $133 and Wells Fargo lifted its target to $130. RBC also expects further appreciation, reinforcing bullish sentiment after the earnings report. BMO Capital Markets Forecasts Strong Price Appreciation for Wayfair Needham Raises Wayfair Price Target Wells Fargo Boosts Wayfair Price Target
• Positive Sentiment: Better-than-expected Q2 results remain the primary catalyst. Wayfair reported adjusted EPS of $0.95 versus a $0.90 consensus estimate and revenue of $3.52 billion versus expectations of $3.47 billion. Revenue increased 7.5% year over year, raising investor expectations that sustained growth and cost controls could move the company closer to consistent profitability. Wayfair Shares Gap Up on Earnings Beat Wayfair Q2 Results Beat Forecasts
• Positive Sentiment: Expansion into physical retail could broaden customer reach. Wayfair plans to open outlet stores in Dublin, Ohio, and North Hills, Pennsylvania, giving the online furniture retailer additional channels to sell inventory and attract shoppers. Wayfair Outlet to Open in Dublin Wayfair Opening North Hills Store
• Neutral Sentiment: Reports indicate affluent consumers are supporting Wayfair’s profit gains despite economic uncertainty, while the company is finding growth in weaker housing markets. This supports demand resilience but may leave the business exposed if higher-income consumer spending slows. Rich Consumers Drive Wayfair Profit Gains
• Negative Sentiment: A nationwide recall involving furniture sold through Wayfair after a toddler was injured creates a potential reputational, customer-safety and liability risk, although the direct financial impact is not yet clear. Nationwide Furniture Recall

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.