Wayfair Inc. (NYSE:W) Receives $77.03 Consensus Price Target from Analysts

Shares of Wayfair Inc. (NYSE:W) have received an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $77.03.

Several equities research analysts have issued reports on W shares. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Friday, February 16th. Barclays lowered their target price on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, January 4th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Wayfair in a report on Friday, February 23rd. BMO Capital Markets began coverage on shares of Wayfair in a report on Tuesday, January 9th. They issued a “market perform” rating and a $57.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 target price (down previously from $93.00) on shares of Wayfair in a report on Friday, February 23rd.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 3,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.04, for a total transaction of $220,810.80. Following the transaction, the chief financial officer now directly owns 82,560 shares in the company, valued at approximately $5,369,702.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jon Blotner sold 4,144 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares in the company, valued at approximately $2,297,157.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 3,395 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total transaction of $220,810.80. Following the completion of the sale, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,808 shares of company stock worth $5,445,222. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds have recently modified their holdings of W. HighTower Advisors LLC increased its stake in Wayfair by 16.9% during the 1st quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after purchasing an additional 342 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Wayfair during the 1st quarter worth approximately $378,000. Panagora Asset Management Inc. increased its stake in Wayfair by 42.7% during the 1st quarter. Panagora Asset Management Inc. now owns 2,204 shares of the company’s stock worth $244,000 after purchasing an additional 659 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Wayfair by 51.6% during the 1st quarter. Vontobel Holding Ltd. now owns 12,740 shares of the company’s stock worth $1,548,000 after purchasing an additional 4,338 shares in the last quarter. Finally, Aviva PLC increased its stake in Wayfair by 1.5% during the 1st quarter. Aviva PLC now owns 23,470 shares of the company’s stock worth $2,600,000 after purchasing an additional 346 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Price Performance

Shares of Wayfair stock opened at $53.66 on Friday. The company’s fifty day moving average price is $59.44 and its two-hundred day moving average price is $55.11. Wayfair has a 52-week low of $29.51 and a 52-week high of $90.71.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, research analysts anticipate that Wayfair will post -3.37 EPS for the current year.

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.