Wayfair (NYSE:W) Given New $85.00 Price Target at Citigroup

Wayfair (NYSE:W) had its price objective raised by Citigroup from $73.00 to $85.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Truist Financial cut their price objective on shares of Wayfair from $65.00 to $63.00 and set a buy rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada increased their price target on Wayfair from $55.00 to $62.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. Raymond James raised shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a research report on Friday, February 16th. Wedbush reaffirmed an outperform rating and set a $70.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Finally, Evercore ISI increased their target price on Wayfair from $55.00 to $60.00 and gave the company an in-line rating in a research note on Friday, February 23rd. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $75.00.

Wayfair Stock Up 0.4 %

Shares of NYSE W opened at $67.88 on Thursday. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71. The stock has a fifty day moving average price of $56.93 and a 200 day moving average price of $55.46.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) 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 analyst estimates of $3.10 billion. As a group, sell-side analysts expect that Wayfair will post -3.39 EPS for the current fiscal year.

Insider Activity

In other news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $7,138,807.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 value of $59,610.72. Following the completion of the transaction, the chief operating officer now owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Niraj Shah sold 10,000 shares of Wayfair stock in a transaction on Monday, January 8th. The shares were sold at an average price of $55.85, for a total transaction of $558,500.00. Following the completion of the sale, the chief executive officer now directly owns 269,137 shares of the company’s stock, valued at approximately $15,031,301.45. The disclosure for this sale can be found here. In the last three months, insiders sold 81,300 shares of company stock worth $4,591,396. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of W. Captrust Financial Advisors lifted its stake in Wayfair by 24.1% in the second quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock worth $42,000 after purchasing an additional 188 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Wayfair by 7.9% during the second quarter. IFP Advisors Inc now owns 2,842 shares of the company’s stock valued at $185,000 after acquiring an additional 208 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Wayfair by 4.3% during the third quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock valued at $318,000 after acquiring an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Wayfair by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock valued at $409,000 after acquiring an additional 276 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in Wayfair by 5.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company’s stock worth $648,000 after purchasing an additional 281 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

About Wayfair

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.