Analysts Set Wayfair Inc. (NYSE:W) Price Target at $100.36

Shares of Wayfair Inc. (NYSE:W) have received an average recommendation of “Moderate Buy” from the thirty-one analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, eighteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $100.3571.

Several equities research analysts recently commented on W shares. Weiss Ratings raised Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Morgan Stanley set a $110.00 price objective on Wayfair in a research note on Friday, May 1st. Canaccord Genuity Group dropped their target price on Wayfair from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Citigroup cut their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Benchmark assumed coverage on Wayfair in a report on Tuesday, July 7th. They set a “hold” rating on the stock.

Wayfair Price Performance

NYSE W opened at $89.58 on Friday. The stock’s 50 day simple moving average is $78.82 and its 200-day simple moving average is $83.56. The company has a market cap of $11.83 billion, a PE ratio of -38.28, a price-to-earnings-growth ratio of 4.70 and a beta of 2.96. Wayfair has a 1-year low of $55.01 and a 1-year high of $119.98.

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

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 5,925 shares of Wayfair 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 transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO Niraj Shah sold 6,137 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the transaction, the chief executive officer owned 429,137 shares in the company, valued at $33,738,750.94. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 245,925 shares of company stock worth $19,183,749. Insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors have recently made changes to their positions in the company. Capital World Investors grew its position in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after acquiring an additional 82,584 shares during the period. Vanguard Group Inc. raised its position in Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after purchasing an additional 72,707 shares during the period. Renaissance Technologies LLC raised its position in Wayfair by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after purchasing an additional 180,558 shares during the period. 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 last quarter. 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 last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.