Wayfair (NYSE:W) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Wayfair (NYSE:W) in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $75.00 price target on the stock.

W has been the topic of a number of other reports. Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 target price on the stock in a report on Friday, February 16th. Citigroup raised their target price on shares of Wayfair from $73.00 to $85.00 and gave the company a buy rating in a research note on Thursday, March 28th. BMO Capital Markets initiated coverage on Wayfair in a research report on Tuesday, January 9th. They set a market perform rating and a $57.00 price target on the stock. Loop Capital raised their price objective on Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, April 2nd. Finally, Canaccord Genuity Group reissued a buy rating and set a $80.00 target price on shares of Wayfair in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of Moderate Buy and a consensus target price of $77.14.

Wayfair Trading Up 8.4 %

Wayfair stock opened at $63.59 on Thursday. Wayfair has a 1-year low of $33.85 and a 1-year high of $90.71. The company has a fifty day simple moving average of $59.92 and a 200 day simple moving average of $55.29. The company 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 released its earnings results 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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. On average, equities research analysts forecast that Wayfair will post -3.37 EPS for the current year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total value of $335,163.90. Following the transaction, the chief technology officer now owns 51,095 shares in the company, valued at approximately $3,222,050.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $6,964,665.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 5,315 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.06, for a total transaction of $335,163.90. Following the sale, the chief technology officer now directly owns 51,095 shares in the company, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,664 shares of company stock valued at $5,289,900. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in Wayfair by 1.3% in the 1st quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock valued at $14,016,000 after acquiring an additional 2,714 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Wayfair by 118.1% in the first quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after purchasing an additional 9,108 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after purchasing an additional 119,415 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Wayfair by 29.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,441 shares of the company’s stock worth $34,920,000 after buying an additional 115,646 shares during the period. Institutional investors own 89.67% of the company’s stock.

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.