Wayfair (NYSE:W) Price Target Increased to $65.00 by Analysts at Loop Capital

Wayfair (NYSE:WFree Report) had its price objective boosted by Loop Capital from $55.00 to $65.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also commented on the stock. Mizuho assumed coverage on shares of Wayfair in a research note on Tuesday, March 19th. They set a buy rating and a $72.00 price target on the stock. Needham & Company LLC reiterated a buy rating and set a $75.00 price target on shares of Wayfair in a research note on Thursday, February 22nd. Citigroup lifted their price target on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Canaccord Genuity Group reiterated a buy rating and set a $80.00 price target on shares of Wayfair in a research note on Friday, February 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. Eleven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair presently has a consensus rating of Moderate Buy and a consensus target price of $75.52.

Read Our Latest Stock Report on Wayfair

Wayfair Trading Down 3.3 %

Wayfair stock opened at $63.69 on Tuesday. The stock has a market cap of $7.67 billion, a P/E ratio of -9.77 and a beta of 3.29. The company has a fifty day simple moving average of $57.43 and a 200-day simple moving average of $55.10. Wayfair has a 12-month low of $29.51 and a 12-month high of $90.71.

Wayfair (NYSE:WGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. As a group, sell-side analysts forecast that Wayfair will post -3.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas Netzer sold 20,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $59.90, for a total transaction of $599,000.00. Following the completion of the sale, the chief executive officer now directly owns 249,137 shares in the company, valued at approximately $14,923,306.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,476 shares of company stock valued at $3,109,905. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently modified their holdings of W. Holocene Advisors LP raised its position 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 valued at $69,382,000 after buying an additional 1,021,583 shares during the last quarter. Capital World Investors raised its position in shares of Wayfair by 8.7% in the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares during the last quarter. Norges Bank acquired a new position in shares of Wayfair in the fourth quarter valued at approximately $28,044,000. Alyeska Investment Group L.P. acquired a new position in shares of Wayfair in the first quarter valued at approximately $18,969,000. Finally, AQR Capital Management LLC raised its position in shares of Wayfair by 422.6% in the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock valued at $30,979,000 after buying an additional 413,592 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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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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