Wayfair (NYSE:W) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Wayfair (NYSE:W) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $80.00 target price on the stock.

Several other equities analysts also recently commented on W. Wedbush reiterated an outperform rating and set a $70.00 price target on shares of Wayfair in a report on Friday, February 23rd. Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target on the stock in a report on Friday, February 16th. Evercore ISI upped their price target on shares of Wayfair from $55.00 to $60.00 and gave the company an in-line rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price target on shares of Wayfair from $55.00 to $62.00 and gave the company a sector perform rating in a report on Friday, February 23rd. Finally, StockNews.com upgraded shares of Wayfair from a sell rating to a hold rating in a report on Monday, March 18th. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has a consensus rating of Moderate Buy and an average price target of $74.59.

Wayfair Trading Up 4.3 %

Shares of NYSE W opened at $67.57 on Monday. The firm’s 50-day moving average price is $56.59 and its 200-day moving average price is $55.38. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -10.36 and a beta of 3.27. Wayfair has a 12-month low of $29.51 and a 12-month high of $90.71.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, equities analysts predict that Wayfair will post -3.39 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of Wayfair stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the transaction, the chief operating officer now owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $59.90, for a total transaction of $599,000.00. Following the completion of the sale, the chief executive officer now owns 249,137 shares of the company’s stock, valued at $14,923,306.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The disclosure for this sale can be found here. Insiders sold 81,300 shares of company stock worth $4,591,396 over the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Wayfair during the fourth quarter worth about $28,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wayfair during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in Wayfair during the fourth quarter worth about $31,000. BluePath Capital Management LLC acquired a new position in Wayfair during the third quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Wayfair during the third quarter worth about $34,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.