Wayfair Inc (NYSE:W)‘s stock had its “overweight” rating reiterated by Piper Jaffray Companies in a report released on Tuesday. They currently have a $51.00 target price on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 28.50% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity restated a “buy” rating on shares of Wayfair in a report on Tuesday, February 7th. Zacks Investment Research raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Friday, December 23rd. Raymond James Financial, Inc. cut shares of Wayfair from an “outperform” rating to a “market perform” rating in a research note on Friday, February 24th. They noted that the move was a valuation call. Credit Suisse Group AG started coverage on shares of Wayfair in a research note on Wednesday, January 11th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, Cowen and Company reissued an “outperform” rating and issued a $44.00 target price (up previously from $39.00) on shares of Wayfair in a research note on Wednesday, February 22nd. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $45.58.
Shares of Wayfair (NYSE:W) opened at 39.69 on Tuesday. The company’s market cap is $3.41 billion. Wayfair has a 12-month low of $27.60 and a 12-month high of $49.34. The stock’s 50 day moving average price is $39.59 and its 200-day moving average price is $38.04.
Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.16. Wayfair had a negative net margin of 5.29% and a negative return on equity of 91.94%. The company had revenue of $985 million for the quarter, compared to the consensus estimate of $971.20 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue was up 33.1% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair will post ($1.63) earnings per share for the current year.
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In other Wayfair news, SVP John Champlin Mulliken sold 9,922 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $36.33, for a total value of $360,466.26. Following the transaction, the senior vice president now directly owns 224,942 shares in the company, valued at $8,172,142.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edmond Macri sold 600 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $42.73, for a total transaction of $25,638.00. Following the completion of the transaction, the insider now owns 813 shares in the company, valued at $34,739.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 967,507 shares of company stock worth $36,909,858. Company insiders own 63.94% of the company’s stock.
Several institutional investors have recently made changes to their positions in W. State of New Jersey Common Pension Fund D raised its position in shares of Wayfair by 19.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 848,000 shares of the company’s stock worth $33,386,000 after buying an additional 140,000 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Wayfair during the third quarter worth about $4,803,000. Kalmar Investments Inc. DE bought a new position in shares of Wayfair during the third quarter worth about $1,851,000. Wells Fargo & Company MN raised its position in shares of Wayfair by 9.9% in the third quarter. Wells Fargo & Company MN now owns 26,112 shares of the company’s stock worth $1,028,000 after buying an additional 2,351 shares during the last quarter. Finally, Northeast Investment Management raised its position in shares of Wayfair by 2.7% in the third quarter. Northeast Investment Management now owns 145,906 shares of the company’s stock worth $5,744,000 after buying an additional 3,767 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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