Wedbush Reiterates Outperform Rating for Wayfair (NYSE:W)

Wayfair (NYSE:W)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $70.00 price target on the stock. Wedbush’s price target points to a potential upside of 10.08% from the company’s current price.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Evercore ISI raised Wayfair from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. Mizuho initiated coverage on Wayfair in a report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 target price on the stock. Royal Bank of Canada reduced their price objective on Wayfair from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Barclays dropped their target price on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $76.45.

Wayfair Trading Up 8.4 %

Wayfair stock opened at $63.59 on Friday. The stock has a fifty day moving average price of $59.92 and a 200 day moving average price of $55.21. Wayfair has a 52 week low of $33.85 and a 52 week high of $90.71. The firm has a market capitalization of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate 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 predict that Wayfair will post -3.37 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.34, for a total transaction of $175,787.28. Following the sale, the insider now owns 32,118 shares in the company, valued at $1,616,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Wayfair news, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the transaction, the insider now owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kate Gulliver sold 3,395 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $65.04, for a total transaction of $220,810.80. Following the completion of the transaction, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The disclosure for this sale can be found here. Insiders have sold 90,156 shares of company stock worth $5,465,688 in the last ninety days. 26.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently made changes to their positions in W. Capital World Investors boosted its position in Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the period. Norges Bank acquired a new position in shares of Wayfair during the fourth quarter valued at $47,374,000. AQR Capital Management LLC grew its position in shares of Wayfair by 422.6% during the third quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after acquiring an additional 413,592 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after acquiring an additional 386,717 shares during the period. Finally, Kodai Capital Management LP bought a new stake in Wayfair in the 4th quarter valued at about $23,552,000. 89.67% of the stock is owned by institutional investors.

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.