Wayfair (NYSE:W) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of Wayfair (NYSE:W) in a research note issued on Thursday. The brokerage set a “buy” rating and a $125.00 price target on the stock. Rosenblatt Securities’ price target indicates a potential upside of 16.16% from the company’s previous close.

Several other research firms have also issued reports on W. Sanford C. Bernstein upgraded shares of Wayfair from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $125.00 in a research report on Friday, August 14th. Needham & Company LLC lifted their target price on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Truist Financial boosted their target price on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Mizuho reduced their target price on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, UBS Group increased their price target on Wayfair from $118.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.89.

Wayfair Trading Up 5.8%

Shares of NYSE W opened at $107.61 on Thursday. Wayfair has a twelve month low of $55.60 and a twelve month high of $119.98. The firm has a 50-day moving average of $92.61 and a two-hundred day moving average of $81.41. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of -43.75, a PEG ratio of 4.51 and a beta of 2.99.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Wayfair will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Also, CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction dated 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 transaction, the chief executive officer directly owned 360,137 shares in the company, valued at approximately $37,223,760.32. This trade represents a 16.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 143,925 shares of company stock valued at $14,834,198. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Havemeyer Place LP purchased a new stake in Wayfair in the 4th quarter worth approximately $39,000. Kestra Advisory Services LLC purchased a new position in shares of Wayfair during the 4th quarter valued at $44,000. Larson Financial Group LLC increased its stake in shares of Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after acquiring an additional 120 shares during the last quarter. Comerica Bank increased its stake in shares of Wayfair by 56.5% in the third quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after acquiring an additional 229 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Wayfair in the fourth quarter worth $71,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.