Royal Bank of Canada Increases Wayfair (NYSE:W) Price Target to $65.00

Wayfair (NYSE:W) had its target price hoisted by Royal Bank of Canada from $61.00 to $65.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a sector perform rating on the stock.

W has been the subject of a number of other research reports. Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 target price for the company in a report on Friday, February 16th. Piper Sandler reissued an overweight rating and issued a $91.00 target price (up previously from $88.00) on shares of Wayfair in a research report on Friday. StockNews.com downgraded Wayfair from a hold rating to a sell rating in a research report on Friday. Morgan Stanley reiterated an overweight rating and issued a $80.00 price objective on shares of Wayfair in a report on Monday, March 25th. Finally, Wedbush restated an outperform rating and set a $70.00 target price on shares of Wayfair in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $77.29.

Wayfair Stock Up 7.7 %

NYSE W opened at $68.49 on Monday. Wayfair has a one year low of $33.85 and a one year high of $90.71. The stock’s 50-day moving average is $60.24 and its 200-day moving average is $55.46.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, equities research analysts forecast that Wayfair will post -3.37 EPS for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,144 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the transaction, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jon Blotner sold 4,144 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the sale, the insider now owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 1,700 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the transaction, the chief executive officer now directly owns 267,437 shares in the company, valued at $13,912,072.74. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 in the last three months. 23.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently added to or reduced their stakes in W. Riverview Trust Co bought a new position in Wayfair in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wayfair during the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new position in Wayfair in the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new position in Wayfair during the third quarter valued at approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Wayfair during the third quarter worth $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.