Wayfair (NYSE:W) Given “Overweight” Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Wayfair (NYSE:W) in a research note released on Friday, Benzinga reports. The brokerage currently has a $91.00 price target on the stock, up from their previous price target of $88.00.

W has been the subject of several other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $75.00 target price on shares of Wayfair in a research report on Thursday, May 2nd. Morgan Stanley reissued an overweight rating and issued a $80.00 price target on shares of Wayfair in a research report on Monday, March 25th. Loop Capital boosted their price objective on shares of Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, April 2nd. Citigroup increased their target price on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Wayfair from a sell rating to a hold rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $77.29.

Wayfair Stock Up 7.7 %

Shares of NYSE W opened at $68.49 on Friday. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of -12.78 and a beta of 3.32. The stock’s fifty day simple moving average is $60.24 and its 200 day simple moving average is $55.46.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (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. As a group, analysts anticipate that Wayfair will post -3.37 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,144 shares of Wayfair 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 completion of the transaction, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the transaction, the chief operating officer now directly owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,664 shares of company stock valued at $5,289,900. 23.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Wayfair in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wayfair during the 4th quarter worth $29,000. GAMMA Investing LLC bought a new stake in shares of Wayfair during the 4th quarter valued at $31,000. BluePath Capital Management LLC acquired a new position in shares of Wayfair in the 3rd quarter valued at $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Wayfair in the third quarter valued at about $34,000. Institutional investors own 89.67% of the company’s stock.

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.