Citigroup Raises Wayfair (NYSE:W) Price Target to $57.00

Wayfair (NYSE:WGet Rating) had its price target boosted by Citigroup from $50.00 to $57.00 in a research note issued on Friday, The Fly reports. Citigroup’s price objective suggests a potential upside of 21.82% from the company’s current price.

Other analysts have also recently issued reports about the company. Cowen cut Wayfair from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $80.00 to $38.00 in a report on Monday, November 21st. Truist Financial dropped their price target on Wayfair from $60.00 to $50.00 in a report on Monday, November 7th. StockNews.com raised Wayfair to a “sell” rating in a report on Wednesday. Royal Bank of Canada dropped their price objective on Wayfair from $62.00 to $35.00 and set a “sector perform” rating for the company in a report on Monday, November 7th. Finally, MKM Partners dropped their price objective on Wayfair from $60.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 19th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.00.

Wayfair Trading Up 20.3 %

Shares of NYSE W opened at $46.79 on Friday. Wayfair has a 12 month low of $28.11 and a 12 month high of $163.99. The stock has a 50 day moving average of $36.90 and a 200-day moving average of $43.30. The company has a market capitalization of $5.01 billion, a P/E ratio of -4.17 and a beta of 2.85.

Wayfair (NYSE:WGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($3.27) earnings per share for the quarter, topping the consensus estimate of ($3.32) by $0.05. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.81 billion. Analysts predict that Wayfair will post -12.55 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 3,909 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $37.27, for a total value of $145,688.43. Following the sale, the chief operating officer now owns 63,405 shares in the company, valued at approximately $2,363,104.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wayfair news, COO Thomas Netzer sold 3,909 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $37.27, for a total value of $145,688.43. Following the sale, the chief operating officer now owns 63,405 shares in the company, valued at approximately $2,363,104.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Oblak sold 854 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $44.40, for a total value of $37,917.60. Following the completion of the transaction, the insider now directly owns 183,941 shares in the company, valued at $8,166,980.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,379 shares of company stock worth $1,540,618. Insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank lifted its stake in shares of Wayfair by 2.0% in the 2nd quarter. Swiss National Bank now owns 327,177 shares of the company’s stock valued at $14,252,000 after purchasing an additional 6,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Wayfair by 793.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 289,478 shares of the company’s stock valued at $12,610,000 after purchasing an additional 257,067 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Wayfair by 332.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,800 shares of the company’s stock valued at $470,000 after purchasing an additional 8,300 shares during the period. Walleye Capital LLC raised its stake in Wayfair by 1,909.1% during the 2nd quarter. Walleye Capital LLC now owns 60,273 shares of the company’s stock worth $2,625,000 after buying an additional 57,273 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Wayfair during the 2nd quarter worth approximately $395,000. 90.61% of the stock is owned by institutional investors and hedge funds.

About Wayfair

(Get Rating)

Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.

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