Wayfair (NYSE:W) Stock Gets Price Target Increase from Argus

Key Points

• Argus raised Wayfair’s price target from $125 to $135 and maintained a Buy rating, implying about 18.3% upside from the previous close.
• Analyst sentiment is broadly positive: Wayfair has a consensus “Moderate Buy” rating and an average price target of $128.68, though ratings range from Strong Buy to Sell.
• Wayfair beat quarterly earnings and revenue estimates, reporting EPS of $0.93 versus $0.80 expected and revenue of $3.42 billion, up 9.7% year over year.

Wayfair (NYSE:W - Get Free Report) had its price objective boosted by stock analysts at Argus from $125.00 to $135.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Argus's target price points to a potential upside of 18.29% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the company. Guggenheim upped their price target on Wayfair from $100.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Gordon Haskett raised Wayfair from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a report on Wednesday, November 4th. Wall Street Zen raised Wayfair from a "hold" rating to a "buy" rating in a report on Saturday, November 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Wayfair in a research report on Monday, September 14th. Finally, Moffett Nathanson upped their target price on Wayfair from $43.00 to $63.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.68.

Wayfair Stock Performance

W opened at $114.13 on Thursday. Wayfair has a fifty-two week low of $55.60 and a fifty-two week high of $127.99. The company has a fifty day moving average of $106.82 and a two-hundred day moving average of $89.26. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of -91.30, a PEG ratio of 5.10 and a beta of 3.10.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.13. Wayfair had a negative net margin of 1.21% and a negative return on equity of 5.14%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The company's revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair will post 0.97 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $122.73, for a total transaction of $859,110.00. Following the completion of the transaction, the chief technology officer owned 181,698 shares of the company's stock, valued at $22,299,795.54. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 500 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the completion of the transaction, the insider owned 115,385 shares in the company, valued at approximately $13,846,200. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 554,070 shares of company stock valued at $59,832,364. 18.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in W. Resona Asset Management Co. Ltd. acquired a new stake in Wayfair during the 3rd quarter worth $34,000. Advisors Asset Management Inc. acquired a new stake in shares of Wayfair in the third quarter valued at about $245,000. Private Wealth Asset Management LLC acquired a new stake in shares of Wayfair in the third quarter valued at about $866,000. Ieq Capital LLC raised its position in shares of Wayfair by 305.2% in the third quarter. Ieq Capital LLC now owns 245,078 shares of the company's stock valued at $25,135,000 after buying an additional 184,591 shares during the last quarter. Finally, Focus Advisor Solutions LLC lifted its stake in shares of Wayfair by 533.2% in the third quarter. Focus Advisor Solutions LLC now owns 36,478 shares of the company's stock worth $3,741,000 after buying an additional 30,717 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc. is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares. The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets. Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.

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