Wayfair Inc. (W) Upgraded at Gordon Haskett
Gordon Haskett upgraded shares of Wayfair Inc. (NYSE:W) from an accumulate rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $89.00 price target on the stock.
Several other equities analysts have also recently issued reports on W. Piper Jaffray Companies set a $87.00 price objective on Wayfair and gave the company a buy rating in a report on Saturday, July 1st. Canaccord Genuity reissued a buy rating on shares of Wayfair in a report on Tuesday, August 8th. Buckingham Research reissued a buy rating and issued a $95.00 price objective on shares of Wayfair in a report on Thursday, August 10th. BidaskClub cut Wayfair from a buy rating to a hold rating in a report on Friday, August 11th. Finally, Credit Suisse Group boosted their price objective on Wayfair from $75.00 to $78.00 and gave the company a neutral rating in a report on Wednesday, August 9th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $70.86.
Wayfair (W) opened at 77.23 on Tuesday. Wayfair has a 12-month low of $27.60 and a 12-month high of $82.19. The company’s market cap is $6.73 billion. The firm has a 50-day moving average price of $72.75 and a 200-day moving average price of $59.80.
Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted ($0.43) EPS. The firm’s revenue was up 42.7% compared to the same quarter last year. On average, analysts forecast that Wayfair will post ($1.45) earnings per share for the current fiscal year.
In other news, insider Steven Conine sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $76.63, for a total value of $4,214,650.00. Following the completion of the sale, the insider now directly owns 55,000 shares in the company, valued at $4,214,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael D. Fleisher sold 4,730 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $65.80, for a total value of $311,234.00. Following the completion of the sale, the chief financial officer now owns 45,580 shares of the company’s stock, valued at $2,999,164. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 923,222 shares of company stock valued at $67,982,369. 56.93% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of W. Spruce House Investment Management LLC purchased a new stake in shares of Wayfair in the first quarter valued at approximately $101,225,000. Columbia Wanger Asset Management LLC purchased a new stake in shares of Wayfair in the first quarter valued at approximately $42,729,000. Vanguard Group Inc. grew its position in shares of Wayfair by 16.3% in the second quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock valued at $232,857,000 after purchasing an additional 423,631 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Wayfair in the second quarter valued at approximately $27,345,000. Finally, Eventide Asset Management LLC grew its position in shares of Wayfair by 99.7% in the first quarter. Eventide Asset Management LLC now owns 699,000 shares of the company’s stock valued at $28,303,000 after purchasing an additional 349,000 shares in the last quarter.
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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