Wayfair Inc. (NYSE:W) Receives $100.36 Average PT from Analysts

Wayfair Inc. (NYSE:W) has been given a consensus rating of “Moderate Buy” by the thirty-one analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $100.3571.

W has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $79.00 price target on shares of Wayfair in a report on Friday, May 1st. Canaccord Genuity Group cut their price objective on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. TD Cowen cut their price objective on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings raised shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Robert W. Baird set a $76.00 price target on Wayfair in a research report on Monday, May 4th.

Wayfair Price Performance

NYSE:W opened at $82.61 on Friday. The company has a 50-day moving average of $80.74 and a 200 day moving average of $83.08. Wayfair has a 1-year low of $55.60 and a 1-year high of $119.98. The firm has a market cap of $10.91 billion, a PE ratio of -35.31, a price-to-earnings-growth ratio of 4.67 and a beta of 2.96.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. Sell-side analysts anticipate that Wayfair will post 0.6 EPS for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. Handelsbanken Fonder AB raised its position in shares of Wayfair by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company’s stock worth $3,188,000 after acquiring an additional 3,400 shares during the period. Chemistry Wealth Management LLC boosted its stake in shares of Wayfair by 5.9% during the 2nd quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company’s stock worth $4,193,000 after acquiring an additional 2,534 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after acquiring an additional 242,791 shares during the period. Versant Capital Management Inc grew its position in shares of Wayfair by 34.5% during the 2nd quarter. Versant Capital Management Inc now owns 3,411 shares of the company’s stock valued at $315,000 after acquiring an additional 874 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Wayfair by 67.7% in the 1st quarter. Empowered Funds LLC now owns 6,829 shares of the company’s stock valued at $514,000 after purchasing an additional 2,758 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.