Wayfair Inc. (NYSE:W) Receives $119.89 Consensus Price Target from Brokerages

Shares of Wayfair Inc. (NYSE:W) have earned an average recommendation of “Moderate Buy” from the thirty-two ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $119.8929.

Several research firms have commented on W. Wells Fargo & Company boosted their target price on Wayfair from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Citigroup lifted their price target on Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Evercore reiterated an “outperform” rating and issued a $130.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. The Goldman Sachs Group reissued a “neutral” rating on shares of Wayfair in a research report on Wednesday, August 5th. Finally, Benchmark started coverage on shares of Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating for the company.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 69,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer directly owned 360,137 shares in the company, valued at $37,223,760.32. The trade was a 16.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 143,925 shares of company stock valued at $14,834,198 over the last 90 days. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors raised its position in Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after buying an additional 82,584 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Wayfair by 9,141.5% during the 2nd quarter. California State Teachers Retirement System now owns 11,068,681 shares of the company’s stock valued at $1,022,967,000 after acquiring an additional 10,948,909 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wayfair by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after acquiring an additional 180,558 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after acquiring an additional 296,233 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after acquiring an additional 8,598 shares during the period. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Performance

W stock opened at $100.31 on Friday. The firm has a 50 day moving average price of $96.51 and a 200-day moving average price of $82.46. Wayfair has a 52-week low of $55.60 and a 52-week high of $119.98. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -40.78, a PEG ratio of 3.59 and a beta of 2.99.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wayfair will post 0.93 earnings per share for the current fiscal year.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.