Wayfair (NYSE:W) Stock Price Up 10% – What’s Next?

Wayfair Inc. (NYSE:W)’s stock price rose 10% during mid-day trading on Thursday . The stock traded as high as $88.78 and last traded at $89.72. Approximately 536,507 shares changed hands during trading, a decline of 86% from the average daily volume of 3,846,524 shares. The stock had previously closed at $81.59.

Wall Street Analyst Weigh In

W has been the topic of several recent research reports. Jefferies Financial Group dropped their target price on Wayfair from $86.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Wedbush dropped their target price on Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Truist Financial set a $99.00 target price on Wayfair in a research report on Monday, June 8th. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Wayfair in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group dropped their target price on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.68.

Wayfair Stock Up 8.6%

The company has a market cap of $11.69 billion, a PE ratio of -37.89, a P/E/G ratio of 4.37 and a beta of 3.02. The stock has a 50-day moving average of $71.17 and a 200-day moving average of $84.94.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Wayfair Inc. will post 0.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven Conine sold 7,139 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.55, for a total value of $560,768.45. Following the sale, the director owned 429,073 shares in the company, valued at approximately $33,703,684.15. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $78.62, for a total value of $482,490.94. Following the sale, the chief executive officer owned 429,137 shares in the company, valued at $33,738,750.94. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 463,785 shares of company stock worth $35,864,224. Corporate insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the company. Webster Bank N. A. purchased a new stake in Wayfair during the fourth quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new stake in Wayfair during the fourth quarter valued at about $33,000. Havemeyer Place LP purchased a new stake in Wayfair during the fourth quarter valued at about $39,000. Kestra Advisory Services LLC purchased a new stake in Wayfair during the fourth quarter valued at about $44,000. Finally, True Wealth Design LLC raised its position in Wayfair by 37.7% during the fourth quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.