Wayfair (NYSE:W) Price Target Increased to $65.00 by Analysts at Royal Bank of Canada

Wayfair (NYSE:W) had its price objective increased by Royal Bank of Canada from $61.00 to $65.00 in a report issued on Monday morning, Benzinga reports. They currently have a sector perform rating on the stock.

W has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a report on Tuesday, January 9th. Sanford C. Bernstein increased their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a market perform rating in a research note on Friday. Wedbush restated an outperform rating and set a $70.00 target price on shares of Wayfair in a report on Friday. BMO Capital Markets upped their price target on shares of Wayfair from $57.00 to $61.00 and gave the company a market perform rating in a report on Friday. Finally, Loop Capital raised their price objective on shares of Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $77.29.

Wayfair Price Performance

Shares of W stock opened at $68.49 on Monday. The stock has a 50 day simple moving average of $60.24 and a 200-day simple moving average of $55.46. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Sell-side analysts expect that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In related news, CEO Niraj Shah sold 1,700 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the sale, the chief executive officer now directly owns 267,437 shares in the company, valued at approximately $13,912,072.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Steven Conine sold 8,300 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.31, for a total transaction of $434,173.00. Following the transaction, the insider now directly owns 259,073 shares of the company’s stock, valued at $13,552,108.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 1,700 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $13,912,072.74. The disclosure for this sale can be found here. Insiders have sold a total of 86,664 shares of company stock valued at $5,289,900 over the last ninety days. Corporate insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its stake in Wayfair by 5.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company’s stock valued at $622,000 after acquiring an additional 537 shares during the last quarter. Raymond James & Associates grew its stake in Wayfair by 9.3% in the third quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock worth $347,000 after purchasing an additional 486 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wayfair by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company’s stock valued at $16,567,000 after buying an additional 7,719 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Wayfair during the third quarter valued at approximately $34,000. Finally, ING Groep NV acquired a new stake in Wayfair during the third quarter valued at approximately $4,016,000. 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.