Wayfair Inc. (W) Given “Buy” Rating at Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of Wayfair Inc. (NYSE:W) in a research report report published on Tuesday. Canaccord Genuity currently has a $55.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on W. Vetr cut Wayfair from a strong-buy rating to a buy rating and set a $48.00 price target on the stock. in a report on Wednesday, June 8th. William Blair assumed coverage on Wayfair in a report on Friday, June 10th. They set a market perform rating on the stock. Longbow Research assumed coverage on Wayfair in a report on Thursday, June 16th. They set a neutral rating on the stock. Cowen and Company restated a buy rating and set a $61.00 price target on shares of Wayfair in a report on Tuesday, June 21st. Finally, Zacks Investment Research upgraded Wayfair from a sell rating to a hold rating in a report on Saturday, July 9th. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Wayfair presently has a consensus rating of Hold and an average target price of $51.42.
Shares of Wayfair (NYSE:W) opened at 38.26 on Tuesday. Wayfair has a 12 month low of $28.85 and a 12 month high of $50.00. The company’s 50 day moving average is $39.57 and its 200-day moving average is $40.16. The firm’s market cap is $3.25 billion.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.02. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The company earned $755.70 million during the quarter, compared to the consensus estimate of $782.43 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The business’s revenue was up 60.0% on a year-over-year basis. Equities research analysts predict that Wayfair will post ($1.67) EPS for the current year.
In other news, SVP Steve Oblak sold 1,020 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $38.70, for a total transaction of $39,474.00. Following the transaction, the senior vice president now directly owns 97,878 shares of the company’s stock, valued at $3,787,878.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $38.10, for a total value of $11,430,000.00. The disclosure for this sale can be found here. 63.94% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in W. FMR LLC boosted its stake in Wayfair by 2.5% in the second quarter. FMR LLC now owns 7,093,073 shares of the company’s stock worth $276,630,000 after buying an additional 169,776 shares during the period. Vanguard Group Inc. boosted its stake in Wayfair by 9.9% in the second quarter. Vanguard Group Inc. now owns 2,113,511 shares of the company’s stock worth $82,427,000 after buying an additional 190,273 shares during the period. Baillie Gifford & Co. boosted its stake in Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock worth $58,876,000 after buying an additional 866,829 shares during the period. Lord Abbett & CO. LLC boosted its stake in Wayfair by 0.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,394,795 shares of the company’s stock worth $54,397,000 after buying an additional 10,074 shares during the period. Finally, Jennison Associates LLC boosted its stake in Wayfair by 15.4% in the second quarter. Jennison Associates LLC now owns 1,315,287 shares of the company’s stock worth $51,296,000 after buying an additional 175,058 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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