Wayfair (NYSE:W) Price Target Raised to $156.00

Wayfair (NYSE:W) had its price target lifted by UBS Group from $118.00 to $156.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Weiss Ratings upgraded Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. The Goldman Sachs Group reissued a “neutral” rating on shares of Wayfair in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $120.00 target price on shares of Wayfair in a research note on Wednesday. Guggenheim upped their price target on Wayfair from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird set a $116.00 price target on Wayfair in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.04.

Wayfair Stock Up 2.7%

Shares of NYSE:W opened at $106.91 on Wednesday. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of -43.46, a PEG ratio of 5.60 and a beta of 2.99. Wayfair has a 12 month low of $55.60 and a 12 month high of $119.98. The company’s fifty day simple moving average is $87.39 and its 200 day simple moving average is $81.99.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.52 billion during 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 for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. Research analysts expect that Wayfair will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jon Blotner sold 5,925 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the sale, the insider owned 117,344 shares in the company, valued at approximately $11,299,053.76. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Optas LLC boosted its holdings in shares of Wayfair by 2.1% in the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock valued at $508,000 after buying an additional 106 shares during the last quarter. Larson Financial Group LLC increased its holdings in Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after buying an additional 120 shares during the last quarter. State of Alaska Department of Revenue raised its position in Wayfair by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after acquiring an additional 124 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Wayfair by 4.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company’s stock valued at $345,000 after acquiring an additional 155 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Wayfair by 12.8% in the fourth quarter. Parallel Advisors LLC now owns 1,400 shares of the company’s stock valued at $141,000 after acquiring an additional 159 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

More Wayfair News

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Analyst optimism increased. BMO, UBS and Wedbush issued positive forecasts, while Needham raised its price target to $133 and Wells Fargo lifted its target to $130. RBC also expects further appreciation, reinforcing bullish sentiment after the earnings report. BMO Capital Markets Forecasts Strong Price Appreciation for Wayfair Needham Raises Wayfair Price Target Wells Fargo Boosts Wayfair Price Target
• Positive Sentiment: Better-than-expected Q2 results remain the primary catalyst. Wayfair reported adjusted EPS of $0.95 versus a $0.90 consensus estimate and revenue of $3.52 billion versus expectations of $3.47 billion. Revenue increased 7.5% year over year, raising investor expectations that sustained growth and cost controls could move the company closer to consistent profitability. Wayfair Shares Gap Up on Earnings Beat Wayfair Q2 Results Beat Forecasts
• Positive Sentiment: Expansion into physical retail could broaden customer reach. Wayfair plans to open outlet stores in Dublin, Ohio, and North Hills, Pennsylvania, giving the online furniture retailer additional channels to sell inventory and attract shoppers. Wayfair Outlet to Open in Dublin Wayfair Opening North Hills Store
• Neutral Sentiment: Reports indicate affluent consumers are supporting Wayfair’s profit gains despite economic uncertainty, while the company is finding growth in weaker housing markets. This supports demand resilience but may leave the business exposed if higher-income consumer spending slows. Rich Consumers Drive Wayfair Profit Gains
• Negative Sentiment: A nationwide recall involving furniture sold through Wayfair after a toddler was injured creates a potential reputational, customer-safety and liability risk, although the direct financial impact is not yet clear. Nationwide Furniture Recall

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.