Wayfair (NYSE:W) Stock Rating Upgraded by Gordon Haskett

Wayfair (NYSE:W) was upgraded by equities researchers at Gordon Haskett from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com reports. The brokerage currently has a $160.00 target price on the stock. Gordon Haskett‘s target price indicates a potential upside of 28.23% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler increased their price target on Wayfair from $133.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 20th. Guggenheim lifted their price target on Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Truist Financial lifted their target price on Wayfair from $99.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reissued a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Wayfair in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.15.

Wayfair Trading Up 12.1%

NYSE:W traded up $13.46 during mid-day trading on Wednesday, hitting $124.78. The company had a trading volume of 2,249,587 shares, compared to its average volume of 3,369,838. The business has a fifty day simple moving average of $105.19 and a 200-day simple moving average of $89.15. Wayfair has a 1 year low of $55.60 and a 1 year high of $126.90. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of -51.20, a PEG ratio of 4.07 and a beta of 3.10.

Wayfair (NYSE:W) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. Wayfair’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. As a group, research analysts anticipate that Wayfair will post 0.93 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In related news, CTO Fiona Tan sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $115.00, for a total transaction of $920,000.00. Following the completion of the sale, the chief technology officer directly owned 196,698 shares in the company, valued at approximately $22,620,270. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the director owned 105,073 shares of the company’s stock, valued at $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. 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 677,070 shares of company stock valued at $72,236,934 over the last quarter. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several large investors have recently modified their holdings of W. Janus Henderson Group PLC grew its holdings in shares of Wayfair by 8.3% in the 1st 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. Atreides Management LP lifted its holdings in shares of Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after purchasing an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after purchasing an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Wayfair by 42.2% during the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after purchasing an additional 5,586 shares during the period. 89.67% of the stock is owned by institutional investors.

Key Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year and ahead of estimates of about $3.38 billion. Earnings of $0.93 per share also topped analyst forecasts of $0.80–$0.83 and rose from $0.70 a year earlier. Wayfair Q3 earnings report
• Positive Sentiment: U.S. revenue rose 11.4% to $3.0 billion, driving overall growth; management said sales gains reflect share capture in a weak market. Coverage also described the quarter as Wayfair’s strongest growth pace since the pandemic and its best margin performance in six years—encouraging signs for its recovery. CNBC Wayfair earnings coverage
• Neutral Sentiment: The broader U.S. market was also higher, providing a supportive backdrop for shares, though the company’s earnings beat and U.S. growth appear to be the more specific catalysts. Wednesday market movers
• Negative Sentiment: International revenue declined 2.3% to $380 million, a headwind that contrasts with strong U.S. performance and leaves the company’s growth reliant on domestic demand for now. Wayfair Q3 results release

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.