Wayfair (NYSE:W) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Wayfair (NYSE:W) in a research note released on Monday, Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of Wayfair from a sell rating to a hold rating in a research note on Friday, March 29th. Royal Bank of Canada increased their price target on Wayfair from $55.00 to $62.00 and gave the company a sector perform rating in a report on Friday, February 23rd. BMO Capital Markets started coverage on Wayfair in a report on Tuesday, January 9th. They set a market perform rating and a $57.00 price objective on the stock. Citigroup increased their target price on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a research note on Thursday, March 28th. Finally, Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $77.03.

Wayfair Price Performance

Shares of W opened at $54.75 on Monday. Wayfair has a 12 month low of $29.51 and a 12 month high of $90.71. The stock’s 50-day moving average is $59.45 and its two-hundred day moving average is $55.08. The stock has a market cap of $6.59 billion, a PE ratio of -8.40 and a beta of 3.29.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, research analysts anticipate that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair 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 transaction of $335,163.90. Following the sale, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,808 shares of company stock worth $5,445,222. 23.50% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Several institutional investors have recently modified their holdings of W. Riverview Trust Co acquired a new position in Wayfair during the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wayfair in the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC bought a new stake in Wayfair during the third quarter worth approximately $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Wayfair in the third quarter worth approximately $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.