Wayfair (NYSE:W) Price Target Raised to $145.00

Key Points

• Needham raised its Wayfair price target to $145 from $133 and maintained a Buy rating, implying about 18% upside from the stock’s current price.
• Wayfair beat quarterly estimates, reporting EPS of $0.93 versus $0.80 expected and revenue of $3.42 billion, up 9.7% year over year.
• Analyst sentiment is broadly positive: MarketBeat’s consensus rating is Moderate Buy, with an average price target of $125.58.

Wayfair (NYSE:W - Get Free Report) had its target price lifted by equities research analysts at Needham & Company LLC from $133.00 to $145.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 18.06% from the stock's current price.

A number of other brokerages have also weighed in on W. The Goldman Sachs Group restated a "neutral" rating on shares of Wayfair in a research report on Wednesday, August 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $108.00 target price on shares of Wayfair in a research report on Tuesday, August 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Wayfair in a research note on Tuesday, September 1st. Morgan Stanley restated an "overweight" rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $120.00 price objective on shares of Wayfair in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $125.58.

Wayfair Price Performance

NYSE W opened at $122.82 on Thursday. Wayfair has a one year low of $55.60 and a one year high of $127.99. The stock's 50-day moving average is $105.55 and its 200-day moving average is $89.17. The firm has a market cap of $16.21 billion, a P/E ratio of -49.93, a P/E/G ratio of 3.84 and a beta of 3.10.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.13. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. Wayfair's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Equities analysts anticipate that Wayfair will post 0.97 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, Director Steven Conine sold 117,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the completion of the sale, the director owned 105,073 shares of the company's stock, valued at approximately $11,689,371.25. This represents a 52.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the transaction, the chief executive officer owned 105,137 shares of the company's stock, valued at approximately $11,696,491.25. The trade was a 52.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 677,070 shares of company stock worth $72,236,934 over the last ninety days. 18.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Wayfair by 4.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,551 shares of the company's stock worth $364,000 after purchasing an additional 140 shares in the last quarter. Flynn Zito Capital Management LLC grew its stake in shares of Wayfair by 6.4% in the 1st quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company's stock valued at $209,000 after buying an additional 168 shares during the period. Arizona State Retirement System grew its stake in shares of Wayfair by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 28,514 shares of the company's stock valued at $2,635,000 after buying an additional 201 shares during the period. Triumph Capital Management increased its position in Wayfair by 6.3% in the 2nd quarter. Triumph Capital Management now owns 3,498 shares of the company's stock valued at $323,000 after buying an additional 207 shares in the last quarter. Finally, Signaturefd LLC increased its position in Wayfair by 5.0% in the 3rd quarter. Signaturefd LLC now owns 5,039 shares of the company's stock valued at $517,000 after buying an additional 239 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair reported Q3 revenue of $3.42 billion, up 9.7% year over year, and earnings of $0.93 per share, beating consensus estimates. U.S. revenue rose 11.4%, and reports described the quarter as the company’s strongest growth period since the pandemic, with a profit turnaround and its best margin quarter in six years. Wayfair Q3 results
• Positive Sentiment: The company expects high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin in Q4. Management also pointed to U.S. market-share gains, while an analyst argued that revenue acceleration and margin expansion could support further upside. Q4 outlook
• Positive Sentiment: Gordon Haskett upgraded Wayfair from Hold to Buy and set a $160 price target. Zacks Research also upgraded the stock from Hold to Strong Buy. Gordon Haskett rating
• Negative Sentiment: International revenue declined 2.3% year over year to $380 million, contrasting with strong U.S. growth. Wayfair Q3 results

Wayfair Company Profile

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.

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