Wayfair (NYSE:W) Given New $32.00 Price Target at Citigroup

Wayfair (NYSE:W) had its target price boosted by Citigroup from $30.00 to $32.00 in a research note published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Evercore ISI lifted their target price on Wayfair from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft cut Wayfair from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Monday, April 14th. Stifel Nicolaus dropped their price target on shares of Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James set a $60.00 price objective on shares of Wayfair and gave the company a “strong-buy” rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.79.

Wayfair Stock Performance

Shares of NYSE W opened at $33.76 on Friday. The firm’s 50 day moving average price is $31.32 and its 200 day moving average price is $40.67. The firm has a market cap of $4.28 billion, a P/E ratio of -8.40 and a beta of 2.93. Wayfair has a 1 year low of $20.41 and a 1 year high of $76.18.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. Wayfair’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Wayfair will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the completion of the transaction, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at $4,575,491.58. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,863 shares of company stock worth $3,393,929 over the last quarter. Corporate insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

Large investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in Wayfair by 18.1% during the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock worth $1,217,000 after purchasing an additional 3,320 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Wayfair in the 4th quarter valued at $6,799,000. Ameritas Advisory Services LLC acquired a new stake in shares of Wayfair in the 4th quarter worth $229,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Wayfair by 5.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after acquiring an additional 2,250 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other 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.