Wayfair (NYSE:W) Price Target Raised to $125.00 at Guggenheim

Wayfair (NYSE:W) had its price objective increased by Guggenheim from $120.00 to $125.00 in a research note published on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Tuesday, October 28th. Argus lifted their price objective on Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Raymond James Financial boosted their price objective on Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 29th. Cowen reaffirmed a “hold” rating on shares of Wayfair in a research report on Wednesday, October 29th. Finally, Citigroup lifted their price target on shares of Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $105.57.

Wayfair Trading Down 4.2%

NYSE:W traded down $4.44 during trading hours on Thursday, hitting $102.05. 3,002,876 shares of the company traded hands, compared to its average volume of 4,778,720. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of -39.86 and a beta of 3.03. Wayfair has a twelve month low of $20.41 and a twelve month high of $114.92. The firm has a 50-day moving average of $90.01 and a 200 day moving average of $67.05.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 120,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total value of $9,860,400.00. Following the completion of the transaction, the chief executive officer owned 169,137 shares of the company’s stock, valued at approximately $13,897,987.29. This represents a 41.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the transaction, the insider owned 169,073 shares of the company’s stock, valued at approximately $13,892,728.41. This represents a 41.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 825,959 shares of company stock worth $70,097,674. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors have recently modified their holdings of W. Cornerstone Planning Group LLC lifted its holdings in Wayfair by 28,200.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 282 shares during the period. True Wealth Design LLC lifted its stake in shares of Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares during the period. Global Retirement Partners LLC boosted its holdings in Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares during the period. Finally, Comerica Bank increased its position in Wayfair by 56.5% during the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after purchasing an additional 229 shares during the period. Institutional investors 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.