Wayfair (NYSE:W) Research Coverage Started at Wedbush

Wedbush started coverage on shares of Wayfair (NYSE:W) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $104.00 price target on the stock.

W has been the topic of a number of other reports. Zacks Research upgraded Wayfair from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. TD Cowen reduced their price objective on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Wayfair in a report on Wednesday, May 20th. UBS Group lowered their target price on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Mizuho dropped their target price on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $100.36.

Wayfair Stock Down 2.1%

Shares of Wayfair stock opened at $89.58 on Thursday. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of -38.28, a price-to-earnings-growth ratio of 4.70 and a beta of 2.96. Wayfair has a 52-week low of $55.01 and a 52-week high of $119.98. The company’s 50-day simple moving average is $78.82 and its 200-day simple moving average is $83.69.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Wayfair will post 0.63 EPS for the current year.

Insider Transactions at Wayfair

In related news, Director Steven Conine sold 112,861 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the sale, the director directly owned 436,212 shares in the company, valued at $33,806,430. The trade was a 20.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the completion of the sale, the chief executive officer directly owned 435,274 shares in the company, valued at approximately $33,729,382.26. The trade was a 20.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 245,925 shares of company stock valued at $19,183,749 in the last 90 days. 18.44% of the stock is currently owned by insiders.

Institutional Trading of Wayfair

Several large investors have recently modified their holdings of W. Webster Bank N. A. purchased a new stake in Wayfair in the 4th quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new position in Wayfair during the fourth quarter worth $33,000. Piper Sandler & CO. purchased a new position in Wayfair during the fourth quarter worth $34,000. Havemeyer Place LP purchased a new position in Wayfair during the fourth quarter worth $39,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after acquiring an additional 653 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.