Wayfair (NYSE:W) Raised to Strong-Buy at Rosenblatt Securities

Wayfair (NYSE:W) was upgraded by stock analysts at Rosenblatt Securities to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

W has been the topic of several other research reports. Wells Fargo & Company raised their price objective on Wayfair from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $116.00 price objective on Wayfair in a research note on Wednesday, August 5th. Wedbush increased their target price on shares of Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on shares of Wayfair from $78.00 to $92.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets raised their target price on shares of Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.89.

Wayfair Stock Performance

Shares of Wayfair stock opened at $103.41 on Wednesday. Wayfair has a one year low of $55.60 and a one year high of $119.98. The stock’s fifty day moving average is $93.13 and its 200 day moving average is $81.41. The stock has a market cap of $13.65 billion, a P/E ratio of -42.04, a P/E/G ratio of 4.78 and a beta of 2.99.

Wayfair (NYSE:W) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $0.87 earnings per share. Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Wayfair will post 0.75 EPS for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the transaction, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. Also, CEO Niraj Shah sold 69,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the sale, the chief executive officer owned 360,137 shares of the company’s stock, valued at $37,223,760.32. This represents a 16.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 143,925 shares of company stock valued at $14,834,198 over the last ninety days. 18.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in W. Capital World Investors raised its position in shares of Wayfair by 0.6% during the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after buying an additional 82,584 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after buying an additional 72,707 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock worth $542,950,000 after acquiring an additional 180,558 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after acquiring an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Wayfair by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after acquiring an additional 8,598 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Rosenblatt initiates a Buy rating: Rosenblatt Securities began covering Wayfair with a Buy rating and a $125 price target, implying roughly 21% upside from the referenced price. The firm also describes Wayfair as a potential beneficiary of artificial-intelligence adoption, which may improve shopping personalization, search and operational efficiency. Benzinga analyst coverage report Rosenblatt Wayfair AI beneficiary article
• Positive Sentiment: Retail and expansion visibility: Wayfair continues to receive consumer-media exposure for furniture, home organization, patio and seasonal products. The planned opening date for a Wayfair Outlet in Dublin also points to continued experimentation with physical retail, although the financial contribution is not yet clear. Wayfair Outlet Dublin opening article
• Neutral Sentiment: Promotional product coverage: Articles highlighting Wayfair deals and popular products—including patio furniture, storage sheds, shoe cabinets, bedroom and kitchen furnishings, and pet products—could support brand engagement and sales, but they provide no new company financial data or evidence of a material change in demand. Wayfair product roundup
• Negative Sentiment: Trademark lawsuit headline: A report that Wayfair faces a trademark lawsuit introduces a legal overhang. The available headline does not disclose the claims, potential damages or litigation stage, so the direct financial risk cannot yet be assessed. Wayfair trademark lawsuit article

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.