Robert W. Baird Raises Wayfair Inc. (NYSE:W) Price Target to $73.00
Wayfair Inc. (NYSE:W) had its target price raised by Robert W. Baird from $65.00 to $73.00 in a research report sent to investors on Tuesday, August 8th. Robert W. Baird currently has a neutral rating on the stock.
A number of other analysts have also recently issued reports on the stock. Oppenheimer Holdings, Inc. restated a hold rating on shares of Wayfair in a research note on Saturday, May 6th. Piper Jaffray Companies set a $87.00 target price on shares of Wayfair and gave the stock a buy rating in a research note on Saturday, July 1st. Zacks Investment Research cut shares of Wayfair from a buy rating to a hold rating in a research note on Tuesday, May 16th. Buckingham Research restated a buy rating and set a $95.00 target price (up previously from $72.00) on shares of Wayfair in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Maxim Group cut shares of Wayfair from a buy rating to a hold rating and raised their target price for the stock from $27.60 to $76.17 in a research note on Monday, June 19th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $69.15.
Shares of Wayfair (W) traded down 0.30% on Tuesday, reaching $66.87. 1,192,729 shares of the company traded hands. Wayfair has a 52-week low of $27.60 and a 52-week high of $82.19. The stock’s market cap is $5.83 billion. The stock has a 50 day moving average of $74.83 and a 200 day moving average of $56.94.
Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.43. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The company’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.43) earnings per share. On average, analysts expect that Wayfair will post ($1.46) earnings per share for the current year.
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In other Wayfair news, insider John Champlin Mulliken sold 1,672 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $69.00, for a total value of $115,368.00. Following the transaction, the insider now directly owns 188,315 shares of the company’s stock, valued at approximately $12,993,735. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James Savarese sold 21,663 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $80.32, for a total transaction of $1,739,972.16. Following the completion of the transaction, the chief operating officer now directly owns 533,821 shares in the company, valued at $42,876,502.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 882,213 shares of company stock worth $64,889,128. 63.94% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. First Personal Financial Services raised its stake in shares of Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock valued at $100,000 after buying an additional 325 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after buying an additional 667 shares during the period. UBS Group AG raised its stake in shares of Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after buying an additional 960 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Wayfair during the first quarter valued at about $110,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Wayfair by 9.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock valued at $114,000 after buying an additional 247 shares during the period.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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