Wayfair (NYSE:W) Upgraded at Gordon Haskett

Gordon Haskett upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $160.00 price target on the stock.

Several other research firms have also weighed in on W. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Rosenblatt Securities started coverage on Wayfair in a report on Thursday, August 20th. They set a “buy” rating and a $125.00 target price on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wayfair in a research report on Tuesday, September 1st. BMO Capital Markets increased their price objective on shares of Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Finally, UBS Group upped their price target on shares of Wayfair from $118.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.57.

Wayfair Stock Down 1.1%

Shares of NYSE W traded down $1.30 during trading hours on Wednesday, hitting $112.08. The company had a trading volume of 1,644,054 shares, compared to its average volume of 2,011,016. Wayfair has a 1-year low of $55.60 and a 1-year high of $127.99. The firm’s 50 day moving average is $105.88 and its 200-day moving average is $89.19. The stock has a market capitalization of $14.79 billion, a P/E ratio of -89.67, a price-to-earnings-growth ratio of 4.07 and a beta of 3.10.

Wayfair (NYSE:W) last issued its earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts predict that Wayfair will post 0.97 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 117,000 shares of the company’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 completion of the sale, the chief executive officer directly owned 105,137 shares in the company, valued at $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director Steven Conine sold 117,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 105,073 shares in the company, valued at approximately $11,689,371.25. This represents a 52.69% 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. Insiders sold a total of 692,070 shares of company stock worth $74,096,044 over the last three months. Corporate insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Wayfair during the 2nd quarter valued at $2,001,000. Baird Financial Group Inc. bought a new stake in Wayfair during the 2nd quarter worth $16,362,000. WINTON GROUP Ltd acquired a new position in Wayfair in the 2nd quarter worth about $3,207,000. Assenagon Asset Management S.A. increased its holdings in Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after purchasing an additional 242,791 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Wayfair in the second quarter valued at about $2,874,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

More Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

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.