Wayfair (NYSE:W) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Wayfair (NYSE:WFree Report) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Several other brokerages also recently commented on W. Royal Bank of Canada boosted their price objective on shares of Wayfair from $55.00 to $62.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. Canaccord Genuity Group reiterated a buy rating and set a $80.00 price target on shares of Wayfair in a report on Friday, February 23rd. Needham & Company LLC reiterated a buy rating and set a $75.00 price target on shares of Wayfair in a report on Thursday, February 22nd. Piper Sandler restated an overweight rating and issued a $88.00 price objective (down from $93.00) on shares of Wayfair in a report on Friday, February 23rd. Finally, Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price objective for the company in a report on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $74.59.

View Our Latest Analysis on W

Wayfair Stock Performance

NYSE:W opened at $64.74 on Monday. The stock’s 50-day simple moving average is $55.30 and its 200 day simple moving average is $55.63. The company has a market cap of $7.79 billion, a P/E ratio of -9.93 and a beta of 3.27. Wayfair has a 52-week low of $29.51 and a 52-week high of $90.71.

Wayfair (NYSE:WGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities analysts predict that Wayfair will post -3.39 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 8,876 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $55.22, for a total value of $490,132.72. Following the completion of the transaction, the chief technology officer now directly owns 112,575 shares of the company’s stock, valued at approximately $6,216,391.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wayfair news, insider Jon Blotner sold 5,186 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $55.23, for a total value of $286,422.78. Following the completion of the transaction, the insider now directly owns 40,515 shares of the company’s stock, valued at approximately $2,237,643.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,876 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $55.22, for a total transaction of $490,132.72. Following the completion of the transaction, the chief technology officer now directly owns 112,575 shares of the company’s stock, valued at $6,216,391.50. The disclosure for this sale can be found here. Insiders sold a total of 81,300 shares of company stock worth $4,591,396 in the last quarter. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in shares of Wayfair during the 3rd quarter valued at $1,147,000. Canada Pension Plan Investment Board raised its holdings in shares of Wayfair by 3,978.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company’s stock valued at $22,235,000 after purchasing an additional 358,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Wayfair by 88.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock worth $38,438,000 after acquiring an additional 297,235 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Wayfair during the 2nd quarter worth approximately $35,482,000. Finally, Jump Financial LLC grew its position in Wayfair by 50.1% during the 3rd quarter. Jump Financial LLC now owns 29,187 shares of the company’s stock worth $1,768,000 after purchasing an additional 9,744 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

(Get Free Report)

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

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Analyst Recommendations for Wayfair (NYSE:W)

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