Wayfair’s (W) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Wayfair (NYSE:W) in a research report report published on Friday, Benzinga reports. They currently have a $91.00 price target on the stock, up from their prior price target of $88.00.

Other analysts also recently issued reports about the company. Morgan Stanley restated an overweight rating and issued a $80.00 price objective on shares of Wayfair in a research report on Monday, March 25th. Evercore ISI raised shares of Wayfair from an in-line rating to an outperform rating and boosted their price objective for the company from $65.00 to $80.00 in a research report on Thursday, April 4th. Needham & Company LLC restated a buy rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday. Wedbush reiterated an outperform rating and issued a $70.00 price target on shares of Wayfair in a report on Monday, April 22nd. Finally, StockNews.com upgraded Wayfair from a sell rating to a hold rating in a report on Friday, March 29th. One research 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 MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $77.14.

Wayfair Stock Up 8.4 %

NYSE:W opened at $63.59 on Friday. The company has a market capitalization of $7.65 billion, a PE ratio of -11.86 and a beta of 3.32. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71. The stock has a fifty day simple moving average of $59.92 and a 200-day simple moving average of $55.29.

Wayfair (NYSE:W) last released 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 analyst estimates of $3.10 billion. As a group, equities analysts anticipate that Wayfair will post -3.37 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 3,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.04, for a total value of $220,810.80. Following the completion of the transaction, the chief financial officer now directly owns 82,560 shares of the company’s stock, valued at approximately $5,369,702.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Kate Gulliver sold 3,395 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $65.04, for a total value of $220,810.80. Following the transaction, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jon Blotner sold 4,144 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the transaction, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,664 shares of company stock valued at $5,289,900. Corporate insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

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

About Wayfair

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.