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

Wayfair (NYSE:W) had its target price boosted by analysts at Guggenheim from $120.00 to $125.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 15.79% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets set a $110.00 price objective on shares of Wayfair and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Barclays upped their price target on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Royal Bank Of Canada raised their price objective on shares of Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Bank of America upgraded Wayfair from a “neutral” rating to a “buy” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Wayfair from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.57.

Wayfair Price Performance

Shares of W stock traded down $3.77 during mid-day trading on Thursday, hitting $107.95. The stock had a trading volume of 672,526 shares, compared to its average volume of 4,773,409. The firm has a market cap of $14.07 billion, a PE ratio of -42.07 and a beta of 3.03. The company’s 50-day simple moving average is $89.54 and its 200-day simple moving average is $66.77. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $114.92.

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

Insider Activity at Wayfair

In related news, CTO Fiona Tan sold 6,347 shares of Wayfair stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total value of $638,127.38. Following the sale, the chief technology officer owned 198,860 shares of the company’s stock, valued at approximately $19,993,384.40. This trade represents a 3.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $105.09, for a total transaction of $3,152,700.00. Following the transaction, the insider directly owned 139,073 shares of the company’s stock, valued at $14,615,181.57. This represents a 17.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 825,959 shares of company stock valued at $70,097,674. Insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new position in Wayfair during the 1st quarter worth $443,000. BloombergSen Inc. grew its holdings in shares of Wayfair by 8.3% during the 1st quarter. BloombergSen Inc. now owns 35,608 shares of the company’s stock worth $1,141,000 after purchasing an additional 2,739 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd grew its holdings in shares of Wayfair by 3.8% during the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 221,748 shares of the company’s stock worth $7,103,000 after purchasing an additional 8,060 shares in the last quarter. Heartland Advisors Inc. increased its position in shares of Wayfair by 45.5% in the first quarter. Heartland Advisors Inc. now owns 80,000 shares of the company’s stock worth $2,562,000 after purchasing an additional 25,000 shares during the period. Finally, XTX Topco Ltd raised its stake in Wayfair by 225.8% in the first quarter. XTX Topco Ltd now owns 81,477 shares of the company’s stock valued at $2,610,000 after purchasing an additional 56,470 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.