Wayfair Inc. (NYSE:W) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Wayfair Inc. (NYSE:W) have been given a consensus recommendation of “Moderate Buy” by the thirty research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $99.6786.

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $110.00 price objective on Wayfair in a research note on Friday, May 1st. Truist Financial set a $99.00 price objective on Wayfair in a research note on Monday, June 8th. Needham & Company LLC cut their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, UBS Group cut their price objective on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st.

Wayfair Trading Up 0.2%

Shares of NYSE W opened at $94.64 on Monday. Wayfair has a 12 month low of $50.40 and a 12 month high of $119.98. The company has a 50 day simple moving average of $73.46 and a two-hundred day simple moving average of $84.42. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of -40.44, a PEG ratio of 4.97 and a beta of 3.02.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts forecast that Wayfair will post 0.63 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 113,863 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total value of $8,823,243.87. Following the transaction, the chief executive officer owned 435,274 shares of the company’s stock, valued at $33,729,382.26. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 4,790 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total transaction of $345,790.10. Following the completion of the transaction, the insider directly owned 111,158 shares in the company, valued at $8,024,496.02. The trade was a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 244,790 shares of company stock valued at $18,959,021 over the last 90 days. 18.44% of the stock is owned by insiders.

Institutional Trading of Wayfair

Hedge funds have recently made changes to their positions in the business. Webster Bank N. A. acquired a new stake in shares of Wayfair during the fourth quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in Wayfair in the fourth quarter valued at approximately $33,000. Havemeyer Place LP acquired a new stake in Wayfair in the fourth quarter valued at approximately $39,000. Kestra Advisory Services LLC acquired a new stake in Wayfair in the fourth quarter valued at approximately $44,000. Finally, True Wealth Design LLC raised its holdings in Wayfair by 37.7% in the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds 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.