Wayfair (NYSE:W) Price Target Raised to $92.00 at Royal Bank Of Canada

Wayfair (NYSE:W) had its target price lifted by Royal Bank Of Canada from $78.00 to $92.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 15.58% from the company’s previous close.

Several other analysts also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a report on Wednesday. BMO Capital Markets upped their target price on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, UBS Group increased their target price on Wayfair from $115.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.23.

Wayfair Stock Performance

Wayfair stock traded down $7.10 during mid-day trading on Wednesday, reaching $108.98. The company’s stock had a trading volume of 3,033,573 shares, compared to its average volume of 3,818,259. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of -46.50, a price-to-earnings-growth ratio of 4.80 and a beta of 2.99. The business’s 50 day simple moving average is $85.37 and its 200 day simple moving average is $81.97. Wayfair has a 12 month low of $55.60 and a 12 month high of $119.98.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts expect that Wayfair will post 0.62 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider owned 117,344 shares in the company, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Covenant Asset Management LLC bought a new position in Wayfair during the 4th quarter worth $4,403,000. North Dakota State Investment Board bought a new stake in shares of Wayfair during the 4th quarter valued at $3,636,000. Vanguard Group Inc. lifted its position in shares of Wayfair by 0.8% during 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 during the period. M&T Bank Corp grew its holdings in shares of Wayfair by 3,713.2% during the 4th quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock worth $16,920,000 after purchasing an additional 164,086 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Wayfair during the 4th quarter worth $1,327,000. 89.67% of the stock is owned by institutional investors.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Q2 results exceeded expectations: Revenue rose 7.5% year over year to approximately $3.52 billion, while adjusted EPS of $0.95 topped the roughly $0.90 consensus estimate. Wayfair Q2 Earnings Beat Estimates on U.S. Demand, Market Share Gains
• Positive Sentiment: U.S. demand is improving: U.S. revenue increased 8.7%, the company’s strongest domestic growth since 2020. Active customers reached 21.7 million, while higher-income shoppers, specialty brands and Perigold supported market-share gains. Wayfair posts strongest U.S. growth since 2020
• Positive Sentiment: Cash flow and near-term guidance were encouraging: Free cash flow reached its highest level since 2020, and Wayfair projected high-single-digit revenue growth with a 6%–7% adjusted EBITDA margin in the third quarter. Wayfair projects high single-digit Q3 growth
• Positive Sentiment: Analysts raised targets: Needham raised its target to $133 with a buy rating, Wells Fargo to $130 with an overweight rating, Wedbush to $125, and BMO to $115. Wayfair Analysts Boost Their Forecasts
• Neutral Sentiment: International performance remained soft: International revenue declined 1.3% year over year, limiting the benefit of domestic growth. Wayfair Swings to Loss on Lower International Sales
• Negative Sentiment: Profitability concerns persist: Wayfair still reported a net loss, and a debt-related charge weighed on the quarter. After the stock’s substantial prior-day surge, elevated expectations and profit-taking are contributing to the pullback.

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.