Brokerages Set Wayfair Inc. (W) Target Price at $75.01
Wayfair Inc. (NYSE:W) has been assigned a consensus rating of “Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $75.01.
A number of equities research analysts have recently weighed in on W shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $87.00 price target (up previously from $70.00) on shares of Wayfair in a report on Wednesday, June 14th. CIBC raised Wayfair from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Maxim Group cut Wayfair from a “buy” rating to a “hold” rating and boosted their target price for the stock from $27.60 to $76.17 in a report on Monday, June 19th. They noted that the move was a valuation call. Gordon Haskett cut Wayfair from a “buy” rating to an “accumulate” rating and boosted their target price for the stock from $70.00 to $85.00 in a report on Tuesday, June 27th. Finally, Buckingham Research reissued a “buy” rating and set a $95.00 target price (up previously from $72.00) on shares of Wayfair in a report on Thursday, July 13th. They noted that the move was a valuation call.
In other news, SVP Steve Oblak sold 948 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $76.68, for a total transaction of $72,692.64. Following the transaction, the senior vice president now directly owns 121,368 shares in the company, valued at approximately $9,306,498.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $75.25, for a total transaction of $3,762,500.00. Following the transaction, the chief executive officer now owns 174,969 shares in the company, valued at $13,166,417.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 853,559 shares of company stock worth $62,934,657. Corporate insiders own 56.93% of the company’s stock.
Several institutional investors have recently bought and sold shares of W. Ameriprise Financial Inc. acquired a new stake in shares of Wayfair in the 1st quarter valued at $1,650,000. Pacer Advisors Inc. lifted its stake in shares of Wayfair by 45.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,124 shares of the company’s stock valued at $167,000 after purchasing an additional 1,292 shares during the last quarter. Clough Capital Partners L P lifted its stake in shares of Wayfair by 46.1% in the 1st quarter. Clough Capital Partners L P now owns 318,664 shares of the company’s stock valued at $11,716,000 after purchasing an additional 100,482 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Wayfair by 5.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,914,674 shares of the company’s stock valued at $147,200,000 after purchasing an additional 102,460 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Wayfair in the 2nd quarter valued at $738,000. Institutional investors and hedge funds own 66.15% of the company’s stock.
Wayfair (NYSE W) traded down 0.98% during trading on Friday, reaching $79.50. The company’s stock had a trading volume of 449,787 shares. The stock’s market capitalization is $6.93 billion. Wayfair has a 52 week low of $27.60 and a 52 week high of $83.36. The firm has a 50 day moving average of $73.24 and a 200 day moving average of $61.89.
Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.43. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) earnings per share. Analysts expect that Wayfair will post ($1.45) EPS for the current year.
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Wayfair Company Profile
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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