Analysts Set Wayfair Inc. (W) Target Price at $52.02
Wayfair Inc. (NYSE:W) has been given an average rating of “Hold” by the twenty-two analysts that are covering the firm. Fourteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $52.02.
A number of equities analysts have recently commented on W shares. Zacks Investment Research upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity restated a “buy” rating and set a $55.00 price objective on shares of Wayfair in a research note on Tuesday, October 4th. Vetr upgraded shares of Wayfair from a “buy” rating to a “strong-buy” rating and set a $42.28 price objective for the company in a research note on Wednesday, September 14th. Pacific Crest restated an “equal weight” rating on shares of Wayfair in a research note on Sunday, August 14th. Finally, Oppenheimer Holdings Inc. restated a “sector perform” rating on shares of Wayfair in a research note on Sunday, August 14th.
Wayfair (NYSE:W) opened at 36.59 on Monday. The company’s market capitalization is $3.11 billion. The stock has a 50 day moving average price of $39.54 and a 200-day moving average price of $40.08. Wayfair has a 1-year low of $28.85 and a 1-year high of $50.00.
Wayfair (NYSE:W) last released its earnings results on Tuesday, August 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.02. The firm had revenue of $755.70 million for the quarter, compared to the consensus estimate of $782.43 million. Wayfair had a negative return on equity of 56.95% and a negative net margin of 4.20%. Wayfair’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) EPS. Equities analysts predict that Wayfair will post ($1.67) earnings per share for the current year.
In other news, CEO Niraj Shah sold 12,000 shares of Wayfair stock in a transaction on Monday, July 18th. The shares were sold at an average price of $40.38, for a total transaction of $484,560.00. Following the transaction, the chief executive officer now owns 12,000 shares in the company, valued at $484,560. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Steve Oblak sold 1,125 shares of Wayfair stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $39.22, for a total transaction of $44,122.50. Following the transaction, the senior vice president now owns 95,884 shares in the company, valued at approximately $3,760,570.48. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of Wayfair by 112.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,629 shares of the company’s stock worth $104,000 after buying an additional 1,394 shares during the period. BlackRock Inc. raised its position in shares of Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock worth $105,000 after buying an additional 1,107 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Wayfair during the second quarter worth approximately $107,000. Legal & General Group Plc raised its position in shares of Wayfair by 46.8% in the first quarter. Legal & General Group Plc now owns 2,957 shares of the company’s stock worth $124,000 after buying an additional 943 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Wayfair by 42.4% in the second quarter. Teacher Retirement System of Texas now owns 3,905 shares of the company’s stock worth $152,000 after buying an additional 1,163 shares during the period. Institutional investors own 71.84% of the company’s stock.
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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