Cowen Raises Wayfair (W) Price Target to $130.00

Wayfair (NYSE:W) had its target price lifted by equities researchers at Cowen from $120.00 to $130.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has a “positive” rating on the stock. Cowen’s price target points to a potential upside of 24.08% from the stock’s previous close.

W has been the subject of several other reports. Loop Capital set a $155.00 price objective on Wayfair and gave the stock a “buy” rating in a research note on Monday, September 10th. Canaccord Genuity reiterated a “buy” rating and set a $165.00 price objective (up from $140.00) on shares of Wayfair in a research note on Friday, September 28th. MKM Partners increased their price objective on Wayfair from $130.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Robert W. Baird dropped their price objective on Wayfair from $118.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Wayfair from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $126.50.

Shares of NYSE W traded down $6.25 during trading hours on Friday, reaching $104.77. The stock had a trading volume of 1,787,901 shares, compared to its average volume of 2,735,651. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of -37.42 and a beta of 1.81. Wayfair has a twelve month low of $60.53 and a twelve month high of $151.20.

Wayfair (NYSE:W) last issued its earnings results on Thursday, November 1st. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.67 billion. The company’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.65) EPS. On average, equities analysts anticipate that Wayfair will post -5.72 EPS for the current year.

In other news, CEO Niraj Shah sold 21,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $135.75, for a total transaction of $2,850,750.00. Following the sale, the chief executive officer now owns 48,566 shares in the company, valued at $6,592,834.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 26,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $137.11, for a total value of $3,564,860.00. Following the sale, the insider now owns 48,538 shares in the company, valued at approximately $6,655,045.18. The disclosure for this sale can be found here. Insiders have sold 380,099 shares of company stock worth $50,817,089 in the last 90 days. Company insiders own 37.75% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in Wayfair by 26.8% in the second quarter. Voya Investment Management LLC now owns 17,638 shares of the company’s stock valued at $2,095,000 after acquiring an additional 3,726 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Wayfair by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 159,649 shares of the company’s stock valued at $18,960,000 after acquiring an additional 9,588 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Wayfair by 43.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,318 shares of the company’s stock valued at $394,000 after acquiring an additional 1,002 shares during the last quarter. Swiss National Bank boosted its holdings in Wayfair by 46.0% in the second quarter. Swiss National Bank now owns 100,600 shares of the company’s stock valued at $11,947,000 after acquiring an additional 31,700 shares during the last quarter. Finally, United Services Automobile Association boosted its holdings in Wayfair by 7.8% in the second quarter. United Services Automobile Association now owns 6,685 shares of the company’s stock valued at $794,000 after acquiring an additional 483 shares during the last quarter. Institutional investors own 70.94% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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