Wedbush Reiterates Outperform Rating for Wayfair Inc (W)
Wayfair Inc (NYSE:W)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Wednesday. They currently have a $82.00 price objective on the stock. Wedbush’s price target points to a potential upside of 15.22% from the company’s current price. Wedbush also issued estimates for Wayfair’s FY2020 earnings at $1.17 EPS.
Several other brokerages also recently issued reports on W. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $88.00 price target on shares of Wayfair in a report on Wednesday, September 13th. DA Davidson began coverage on shares of Wayfair in a report on Wednesday, September 13th. They set a “neutral” rating and a $78.00 price target for the company. BidaskClub downgraded shares of Wayfair from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies set a $87.00 price target on shares of Wayfair and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating on shares of Wayfair in a report on Monday, July 3rd. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Wayfair currently has an average rating of “Buy” and an average price target of $77.07.
Shares of Wayfair (W) opened at 71.17 on Wednesday. Wayfair has a 52 week low of $27.60 and a 52 week high of $84.19. The firm’s market cap is $6.20 billion. The firm has a 50 day moving average of $72.94 and a 200 day moving average of $64.92.
Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.43. Wayfair had a negative net margin of 3.46% and a negative return on equity of 644.30%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was up 42.7% on a year-over-year basis. Equities analysts predict that Wayfair will post ($1.45) earnings per share for the current fiscal year.
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In related news, insider Edmond Macri sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $74.00, for a total transaction of $44,400.00. Following the completion of the transaction, the insider now owns 756 shares in the company, valued at $55,944. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $73.77, for a total transaction of $3,688,500.00. Following the transaction, the chief executive officer now owns 86,136 shares of the company’s stock, valued at approximately $6,354,252.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 763,751 shares of company stock valued at $56,212,920. 56.93% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Wayfair by 2.7% during the second quarter. FMR LLC now owns 7,757,688 shares of the company’s stock valued at $596,411,000 after purchasing an additional 207,443 shares during the period. Vanguard Group Inc. grew its holdings in Wayfair by 16.3% during 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 during the period. Baillie Gifford & Co. grew its holdings in Wayfair by 5.7% during the second 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 period. Columbia Wanger Asset Management LLC acquired a new position in Wayfair during the first quarter valued at approximately $42,729,000. Finally, Allen Investment Management LLC grew its holdings in Wayfair by 25.7% during the second quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after purchasing an additional 180,000 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.
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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