Morgan Stanley Reiterates Overweight Rating for Wayfair (NYSE:W)

Wayfair (NYSE:WGet Free Report)‘s stock had its “overweight” rating reiterated by Morgan Stanley in a report released on Monday, Benzinga reports. They currently have a $80.00 price objective on the stock. Morgan Stanley’s price target suggests a potential upside of 23.63% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Wayfair in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Wayfair in a research note on Thursday, February 22nd. Raymond James raised Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research report on Friday, February 16th. Piper Sandler reissued an “overweight” rating and issued a $88.00 target price (down from $93.00) on shares of Wayfair in a report on Friday, February 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Eleven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.59.

Read Our Latest Stock Analysis on W

Wayfair Stock Performance

Shares of NYSE:W opened at $64.71 on Monday. The stock’s 50-day simple moving average is $56.27 and its two-hundred day simple moving average is $55.29. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -9.92 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 posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. As a group, equities analysts forecast that Wayfair will post -3.39 earnings per share for the current fiscal year.

Insider Activity

In other Wayfair news, COO Thomas Netzer sold 984 shares of Wayfair stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the transaction, the chief operating officer now directly owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Wayfair news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now directly owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $59.90, for a total value of $599,000.00. Following the completion of the transaction, the chief executive officer now owns 249,137 shares of the company’s stock, valued at approximately $14,923,306.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,300 shares of company stock worth $4,591,396. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Holocene Advisors LP raised its holdings in shares of Wayfair by 2,236.9% in the second quarter. Holocene Advisors LP now owns 1,067,252 shares of the company’s stock worth $69,382,000 after buying an additional 1,021,583 shares during the period. Capital World Investors increased its stake in Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock worth $743,004,000 after purchasing an additional 962,307 shares during the period. Norges Bank bought a new stake in shares of Wayfair during the fourth quarter worth $28,044,000. Alyeska Investment Group L.P. bought a new stake in shares of Wayfair during the first quarter worth $18,969,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Wayfair during the second quarter valued at $35,482,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

(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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