Guggenheim Raises Wayfair (NYSE:W) Price Target to $125.00

Wayfair (NYSE:W) had its price objective lifted by research analysts at Guggenheim from $120.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 22.48% from the company’s previous close.

A number of other brokerages also recently issued reports on W. Cowen reiterated a “hold” rating on shares of Wayfair in a report on Wednesday, October 29th. Raymond James Financial raised their price objective on Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 29th. UBS Group boosted their target price on shares of Wayfair from $102.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Sanford C. Bernstein restated a “market perform” rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Finally, Zelman & Associates lifted their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.57.

Wayfair Price Performance

NYSE:W opened at $102.05 on Thursday. Wayfair has a 1-year low of $20.41 and a 1-year high of $114.92. The company has a 50-day moving average of $90.26 and a 200 day moving average of $67.54. The firm has a market cap of $13.30 billion, a PE ratio of -39.86 and a beta of 3.03.

Wayfair (NYSE:W) last posted its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $105.09, for a total value of $3,152,700.00. Following the completion of the transaction, the insider owned 139,073 shares in the company, valued at $14,615,181.57. This trade represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Niraj Shah sold 30,000 shares of Wayfair stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $105.10, for a total value of $3,153,000.00. Following the sale, the chief executive officer directly owned 139,137 shares of the company’s stock, valued at approximately $14,623,298.70. This represents a 17.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 825,959 shares of company stock valued at $70,097,674 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Wayfair by 8.4% during the third quarter. Versant Capital Management Inc now owns 1,948 shares of the company’s stock valued at $174,000 after buying an additional 151 shares during the period. Global Retirement Partners LLC raised its position in shares of Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Wayfair by 3.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock worth $352,000 after acquiring an additional 200 shares in the last quarter. Comerica Bank grew its position in shares of Wayfair by 56.5% during the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after acquiring an additional 229 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Wayfair by 250.5% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

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.