Analysts Set Wayfair Inc. (NYSE:W) Target Price at $118.04

Wayfair Inc. (NYSE:W) has been given a consensus rating of “Moderate Buy” by the thirty-one brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $119.7037.

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $120.00 price target on shares of Wayfair in a research note on Wednesday, August 5th. Guggenheim upped their price objective on Wayfair from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Mizuho decreased their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and issued a $108.00 target price on shares of Wayfair in a research note on Tuesday, August 4th. Finally, UBS Group boosted their target price on Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Insider Activity at Wayfair

In other Wayfair news, Director Steven Conine sold 69,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the transaction, the director directly owned 360,073 shares in the company, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 143,925 shares of company stock worth $14,834,198 over the last 90 days. Insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors boosted its stake in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after acquiring an additional 82,584 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Wayfair by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after acquiring an additional 72,707 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Wayfair by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after acquiring an additional 180,558 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Wayfair by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after purchasing an additional 296,233 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares during the period. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Up 1.3%

Shares of NYSE W opened at $102.95 on Tuesday. The firm’s 50-day simple moving average is $91.23 and its 200 day simple moving average is $81.45. The company has a market cap of $13.59 billion, a price-to-earnings ratio of -41.85, a price-to-earnings-growth ratio of 4.50 and a beta of 2.99. Wayfair has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, equities analysts expect that Wayfair will post 0.75 earnings per share for the current year.

Wayfair Company Profile

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.