Citigroup started coverage on shares of Wayfair (NYSE:W) in a report released on Friday. The firm set a “neutral” rating and a $117.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 5.66% from the company’s current price.

Several other equities research analysts also recently commented on W. Bank of America downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and upped their price target for the company from $130.00 to $160.00 in a research report on Thursday, September 13th. MKM Partners upped their price target on shares of Wayfair from $130.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Canaccord Genuity restated a “buy” rating and issued a $165.00 price target (up previously from $140.00) on shares of Wayfair in a research report on Friday, September 28th. Wells Fargo & Co began coverage on shares of Wayfair in a research report on Wednesday, September 12th. They issued a “market perform” rating and a $150.00 price target for the company. Finally, Loop Capital set a $155.00 price target on shares of Wayfair and gave the company a “buy” rating in a research report on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $126.72.

W stock traded down $0.29 on Friday, hitting $110.73. 7,993 shares of the company’s stock traded hands, compared to its average volume of 2,679,897. Wayfair has a 1-year low of $60.53 and a 1-year high of $151.20. The firm has a market cap of $9.78 billion, a PE ratio of -39.55 and a beta of 1.81.

Wayfair (NYSE:W) last released its earnings results on Thursday, November 1st. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted ($0.65) earnings per share. Wayfair’s revenue was up 42.4% on a year-over-year basis. Equities analysts forecast that Wayfair will post -5.72 earnings per share for the current year.

In other news, CEO Niraj Shah sold 21,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $135.75, for a total transaction of $2,850,750.00. Following the transaction, the chief executive officer now owns 48,566 shares in the company, valued at approximately $6,592,834.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 26,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $137.11, for a total transaction of $3,564,860.00. Following the completion of the transaction, the insider now owns 48,538 shares in the company, valued at $6,655,045.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 380,099 shares of company stock worth $50,817,089. Company insiders own 37.75% of the company’s stock.

Several large investors have recently modified their holdings of the company. UBS Group AG lifted its position in shares of Wayfair by 81.7% during the 1st quarter. UBS Group AG now owns 3,927 shares of the company’s stock valued at $265,000 after acquiring an additional 1,766 shares during the period. Bank of Montreal Can lifted its holdings in Wayfair by 50.2% in the 2nd quarter. Bank of Montreal Can now owns 6,305 shares of the company’s stock worth $749,000 after buying an additional 2,106 shares in the last quarter. Aperio Group LLC lifted its holdings in Wayfair by 35.7% in the 2nd quarter. Aperio Group LLC now owns 6,346 shares of the company’s stock worth $754,000 after buying an additional 1,669 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Wayfair by 13.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,578 shares of the company’s stock worth $1,256,000 after buying an additional 1,230 shares in the last quarter. Finally, Comerica Bank acquired a new position in Wayfair in the 2nd quarter worth $255,000. Institutional investors own 70.94% of the company’s stock.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Analyst Recommendations for Wayfair (NYSE:W)

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