Wayfair Inc. (NYSE:W) Stock Has Average Target Price of $121.14

Shares of Wayfair Inc. (NYSE:W) have earned a consensus rating of “Moderate Buy” from the thirty brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, sixteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $120.07.

Several research firms have recently weighed in on W. JPMorgan Chase & Co. lifted their price objective on Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating on shares of Wayfair in a report on Wednesday, August 5th. Benchmark initiated coverage on Wayfair in a report on Tuesday, July 7th. They set a “hold” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Wayfair in a research note on Monday, September 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Wayfair in a research note on Wednesday, August 5th.

Insiders Place Their Bets

In other news, CTO Fiona Tan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total transaction of $920,000.00. Following the completion of the transaction, the chief technology officer owned 196,698 shares of the company’s stock, valued at approximately $22,620,270. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of Wayfair stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the sale, the chief executive officer owned 105,137 shares of the company’s stock, valued at approximately $11,696,491.25. The trade was a 52.67% 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 a total of 676,570 shares of company stock worth $72,176,934 over the last three months. Corporate insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the last quarter. Atreides Management LP grew its holdings in shares of Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after purchasing an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Wayfair by 46.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after purchasing an additional 328,358 shares during the period. Assenagon Asset Management S.A. raised its position in Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after purchasing an additional 242,791 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Wayfair by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after buying an additional 5,586 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of Wayfair stock opened at $113.12 on Friday. Wayfair has a twelve month low of $55.60 and a twelve month high of $119.98. The company’s fifty day moving average is $104.03 and its 200 day moving average is $89.16.

Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. Analysts expect that Wayfair will post 0.93 EPS for the current year.

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.