Wayfair (NYSE:W) PT Raised to $55.00

Wayfair (NYSE:W) had its price target boosted by Sanford C. Bernstein from $50.00 to $55.00 in a report released on Friday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective indicates a potential downside of 13.51% from the stock’s previous close.

Several other analysts have also recently weighed in on W. Raymond James raised 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. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Wedbush reissued an “outperform” rating and set a $70.00 price objective on shares of Wayfair in a report on Friday. Citigroup upped their price target on Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus price target of $76.45.

Wayfair Trading Up 8.4 %

Shares of W stock opened at $63.59 on Friday. Wayfair has a 1 year low of $33.85 and a 1 year high of $90.71. The firm’s 50 day moving average is $59.92 and its 200-day moving average is $55.21. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last posted 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 analyst estimates of $3.10 billion. On average, equities research analysts forecast that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was 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 directly 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 Securities & Exchange Commission, which is accessible through this link. In other news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the sale, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 20,000 shares of Wayfair 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 directly owns 116,622 shares in the company, valued at $6,964,665.84. The disclosure for this sale can be found here. Insiders have sold 90,156 shares of company stock valued at $5,465,688 over the last ninety days. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

A number of hedge funds have recently made changes to their positions in W. Riverview Trust Co bought a new position in shares of Wayfair during the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wayfair during the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair during the fourth quarter worth about $31,000. BluePath Capital Management LLC bought a new position in shares of Wayfair during the third quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Wayfair during the third quarter worth about $34,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

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.