Wayfair (NYSE:W) Stock Price Up 7% – Time to Buy?

Wayfair Inc. (NYSE:W)’s stock price was up 7% during mid-day trading on Thursday . The stock traded as high as $99.80 and last traded at $99.8170. Approximately 856,746 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,652,596 shares. The stock had previously closed at $93.31.

Analyst Ratings Changes

W has been the topic of several analyst reports. Wall Street Zen downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Royal Bank Of Canada boosted their price objective on shares of Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Needham & Company LLC raised their target price on shares of Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.29.

Wayfair Trading Up 7.0%

The firm has a market capitalization of $13.01 billion, a P/E ratio of -39.03 and a beta of 3.25. The stock has a 50-day simple moving average of $95.47 and a two-hundred day simple moving average of $76.14.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In other news, CFO Kate Gulliver sold 9,612 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $102.20, for a total value of $982,346.40. Following the completion of the sale, the chief financial officer owned 175,497 shares of the company’s stock, valued at approximately $17,935,793.40. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the insider directly owned 729,073 shares in the company, valued at approximately $77,223,412.16. The trade was a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 955,959 shares of company stock worth $88,260,274. 21.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its position in Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 282 shares in the last quarter. True Wealth Design LLC raised its holdings in Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

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.