Wayfair (NYSE:W) Coverage Initiated at Zelman & Associates

Zelman & Associates assumed coverage on shares of Wayfair (NYSE:W) in a research note published on Thursday morning,Benzinga reports. The firm issued an outperform rating on the stock.

Several other analysts have also issued reports on W. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Monday, April 14th. Truist Financial set a $40.00 target price on Wayfair in a report on Friday, May 2nd. Loop Capital reaffirmed a “sell” rating and issued a $35.00 price target on shares of Wayfair in a research note on Wednesday. Stifel Nicolaus dropped their price objective on Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Finally, Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Wayfair Price Performance

NYSE:W opened at $39.59 on Thursday. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -9.85 and a beta of 2.93. The business has a 50 day moving average of $31.13 and a 200 day moving average of $39.96. Wayfair has a 1-year low of $20.41 and a 1-year high of $68.87.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the transaction, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. This trade represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,330 shares of company stock worth $4,767,406 over the last quarter. 21.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after buying an additional 327,603 shares during the period. Assenagon Asset Management S.A. bought a new position in Wayfair in the 4th quarter valued at $6,799,000. Sterling Capital Management LLC increased its stake in Wayfair by 60.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock worth $250,000 after purchasing an additional 2,116 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Wayfair by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock worth $1,982,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Wayfair during the fourth quarter worth $229,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.