Wayfair Inc. (NYSE:W) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Wayfair Inc. (NYSE:W) has received a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $121.04.

A number of equities research analysts have recently weighed in on the company. 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. Rosenblatt Securities assumed coverage on shares of Wayfair in a research report on Thursday, August 20th. They set a “buy” rating and a $125.00 price target for the company. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Wayfair in a research report on Tuesday, September 1st. Finally, BMO Capital Markets boosted their price objective on shares of Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th.

Wayfair Trading Up 5.6%

Shares of W opened at $120.44 on Friday. Wayfair has a 1 year low of $55.60 and a 1 year high of $120.90. The stock has a 50 day simple moving average of $104.53 and a 200-day simple moving average of $89.19. The stock has a market cap of $15.90 billion, a PE ratio of 232.69, a PEG ratio of 4.10 and a beta of 3.02.

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

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 117,000 shares of Wayfair stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the transaction, the chief executive officer owned 105,137 shares of the company’s stock, valued at approximately $11,696,491.25. The trade was a 52.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 117,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the director owned 105,073 shares in the company, valued at approximately $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 676,570 shares of company stock worth $72,176,934 in the last 90 days. Corporate insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atreides Management LP increased its stake in shares of Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after purchasing an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after acquiring an additional 328,358 shares during the last quarter. Janus Henderson Group PLC boosted its position in Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after purchasing an additional 296,233 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Wayfair by 42.2% in the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Wayfair in the second quarter valued at about $16,362,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.