Wayfair (NYSE:W) Given New $55.00 Price Target at Sanford C. Bernstein

Wayfair (NYSE:W) had its price objective increased by Sanford C. Bernstein from $50.00 to $55.00 in a research note released on Friday morning, Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages have also issued reports on W. Needham & Company LLC restated a buy rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday. Loop Capital upped their target price on Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Citigroup lifted their price target on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a report on Thursday, March 28th. Stifel Nicolaus increased their price objective on shares of Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada lowered their target price on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating for the company in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $76.45.

Wayfair Stock Up 8.4 %

Wayfair stock traded up $4.95 during trading hours on Friday, hitting $63.59. The stock had a trading volume of 8,825,370 shares, compared to its average volume of 4,777,874. Wayfair has a 1-year low of $33.85 and a 1-year high of $90.71. The stock’s fifty day moving average is $59.92 and its two-hundred day moving average is $55.16.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share 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. Analysts predict that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 3,492 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the sale, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Niraj Shah sold 1,700 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now owns 267,437 shares in the company, valued at $13,912,072.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,156 shares of company stock worth $5,465,688. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp raised its stake in shares of Wayfair by 4.3% during the 3rd quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock worth $318,000 after purchasing an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Wayfair by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock worth $409,000 after acquiring an additional 276 shares during the period. Treasurer of the State of North Carolina lifted its position in Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after acquiring an additional 360 shares during the last quarter. Amalgamated Bank boosted its holdings in Wayfair by 2.8% during the fourth quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock valued at $903,000 after acquiring an additional 397 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of Wayfair in the first quarter valued at about $27,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.