BMO Capital Markets Raises Wayfair (NYSE:W) Price Target to $61.00

Wayfair (NYSE:W) had its price objective raised by BMO Capital Markets from $57.00 to $61.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities analysts have also recently weighed in on the company. StockNews.com upgraded Wayfair from a sell rating to a hold rating in a research note on Friday, March 29th. Needham & Company LLC restated a buy rating and set a $75.00 price target on shares of Wayfair in a report on Thursday. Wedbush reissued an outperform rating and issued a $70.00 price objective on shares of Wayfair in a research report on Friday. TD Cowen raised their target price on Wayfair from $50.00 to $55.00 and gave the company a hold rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Wayfair from $63.00 to $79.00 and gave the company a buy rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair has an average rating of Moderate Buy and an average price target of $77.14.

Wayfair Stock Up 8.4 %

Shares of W opened at $63.59 on Friday. The business’s fifty day moving average is $59.92 and its 200 day moving average is $55.29. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71. The stock has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, analysts expect that Wayfair will post -3.37 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of the firm’s 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 sale, the chief operating officer now owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total value of $88,434.00. Following the sale, the chief executive officer now owns 267,437 shares in the company, valued at $13,912,072.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,664 shares of company stock worth $5,289,900. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in Wayfair during the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wayfair during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Wayfair in the 4th quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new stake in shares of Wayfair in the 3rd quarter worth approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Wayfair during the third quarter valued at $34,000. 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.