Wayfair Inc. (NYSE:W) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Thirty-two analysts give Wayfair a consensus “Moderate Buy” rating, including 18 buys and three strong buys. The average 12-month price target is approximately $119.89.
• Wayfair exceeded quarterly expectations: The company reported adjusted EPS of $0.95 versus the $0.90 consensus estimate and revenue of $3.52 billion versus $3.47 billion expected, with revenue up 7.5% year over year.
• Insiders have been selling shares: CEO Niraj Shah and director Steven Conine each sold 69,000 shares under pre-arranged Rule 10b5-1 plans. Insiders sold $14.8 million worth of stock over the past 90 days, while institutional investors own 89.67% of the company.

Wayfair Inc. (NYSE:W - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirty-two ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, eighteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $119.8929.

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities initiated coverage on shares of Wayfair in a research note on Thursday, August 20th. They issued a "buy" rating and a $125.00 target price for the company. Wedbush increased their price target on Wayfair from $85.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Robert W. Baird set a $116.00 price target on Wayfair in a report on Wednesday, August 5th. Benchmark started coverage on Wayfair in a report on Tuesday, July 7th. They set a "hold" rating for the company. Finally, Mizuho cut their price objective on Wayfair from $110.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, May 8th.

Insider Activity

In related news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the director directly owned 360,073 shares of the company's stock, valued at $37,217,145.28. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the transaction, the chief executive officer owned 360,137 shares in the company, valued at approximately $37,223,760.32. This trade represents a 16.08% 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. Over the last ninety days, insiders sold 143,925 shares of company stock worth $14,834,198. 18.44% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Several hedge funds have recently modified their holdings of the stock. North Dakota State Investment Board bought a new position in Wayfair in the 4th quarter valued at $3,636,000. Lisanti Capital Growth LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at $5,648,000. Assenagon Asset Management S.A. raised its position in shares of Wayfair by 42.2% during the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company's stock worth $75,654,000 after acquiring an additional 242,791 shares during the last quarter. Dockside LLC bought a new stake in shares of Wayfair during the fourth quarter worth $1,990,000. Finally, Legato Capital Management LLC bought a new stake in shares of Wayfair during the fourth quarter worth $1,327,000. 89.67% of the stock is owned by institutional investors.

Wayfair Stock Performance

Shares of NYSE:W opened at $99.46 on Friday. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98. The company's fifty day moving average is $96.18 and its 200-day moving average is $82.16. The company has a market capitalization of $13.13 billion, a PE ratio of -40.43, a P/E/G ratio of 3.89 and a beta of 2.99.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. On average, analysts forecast that Wayfair will post 0.83 EPS for the current year.

Wayfair Company Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source