Wayfair (NYSE:W) Price Target Raised to $45.00 at Evercore ISI

Wayfair (NYSE:W) had its price target upped by Evercore ISI from $40.00 to $45.00 in a research report report published on Friday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on W. Bank of America lowered their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Citigroup lifted their price objective on shares of Wayfair from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. BMO Capital Markets upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, February 21st. Truist Financial reduced their price target on shares of Wayfair from $53.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Monday, April 14th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.38.

Wayfair Price Performance

Shares of NYSE W opened at $33.76 on Friday. The stock has a market cap of $4.28 billion, a PE ratio of -8.40 and a beta of 3.72. Wayfair has a 1 year low of $20.41 and a 1 year high of $76.18. The firm has a fifty day moving average price of $31.32 and a 200-day moving average price of $40.84.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts expect that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Fiona Tan sold 23,835 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the transaction, the chief technology officer now directly owns 111,128 shares in the company, valued at approximately $3,547,205.76. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,863 shares of company stock worth $3,393,929 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in the company. J.Safra Asset Management Corp increased its holdings in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares during the period. GAMMA Investing LLC increased its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. True Wealth Design LLC increased its holdings in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the period. California State Teachers Retirement System raised its position in shares of Wayfair by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock worth $3,860,000 after acquiring an additional 383 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.