Wayfair (NYSE:W) Price Target Raised to $55.00

Wayfair (NYSE:W) had its target price lifted by Sanford C. Bernstein from $50.00 to $55.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also recently weighed in on W. Raymond James raised shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price objective for the company in a research report on Friday, February 16th. Citigroup upped their price target on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a report on Thursday, March 28th. Mizuho assumed coverage on shares of Wayfair in a research note on Tuesday, March 19th. They issued a buy rating and a $72.00 price objective on the stock. TD Cowen upped their target price on Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research note on Friday. Finally, Truist Financial lifted their price target on Wayfair from $63.00 to $70.00 and gave the company a buy rating in a research note on Friday. One investment 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. According to data from MarketBeat, Wayfair currently has a consensus rating of Moderate Buy and an average target price of $77.29.

Wayfair Trading Up 7.7 %

NYSE W opened at $68.49 on Friday. The company has a market cap of $8.24 billion, a price-to-earnings ratio of -12.78 and a beta of 3.32. Wayfair has a 1-year low of $33.85 and a 1-year high of $90.71. The company has a 50 day moving average of $60.24 and a 200-day moving average of $55.46.

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

Insiders Place Their Bets

In related news, insider Jon Blotner sold 4,144 shares of the business’s stock in a transaction 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 transaction, the insider now owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Wayfair news, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 4,144 shares of the firm’s 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 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 90 days, insiders sold 86,664 shares of company stock worth $5,289,900. 23.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of W. Sciencast Management LP acquired a new position in Wayfair during the 1st quarter worth approximately $285,000. ORG Partners LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $37,000. Signaturefd LLC raised its position in shares of Wayfair by 1.3% during the first quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock worth $14,016,000 after purchasing an additional 2,714 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Wayfair by 118.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after purchasing an additional 9,108 shares during the period. 89.67% of the stock is owned by institutional investors.

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.