Wayfair (NYSE:W) Sets New 52-Week High – Should You Buy?

Wayfair Inc. (NYSE:W)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $114.92 and last traded at $113.9510, with a volume of 937490 shares changing hands. The stock had previously closed at $106.88.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Canaccord Genuity Group increased their target price on Wayfair from $100.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Wayfair in a report on Wednesday, October 29th. Zelman & Associates upped their price target on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $103.96.

Wayfair Stock Performance

The stock has a fifty day simple moving average of $87.47 and a two-hundred day simple moving average of $65.30. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of -44.19 and a beta of 3.03.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, October 28th. The company reported $0.70 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. During the same period in the prior year, the business earned $0.22 EPS. Wayfair’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven Conine sold 199,473 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider owned 544,073 shares of the company’s stock, valued at $42,655,323.20. This trade represents a 26.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Niraj Shah sold 199,422 shares of Wayfair stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares in the company, valued at $42,660,340.80. This represents a 26.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,224,854 shares of company stock valued at $101,371,042. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several large investors have recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $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 valued at $29,000 after purchasing an additional 233 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Wayfair during the third quarter worth $71,000. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

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.