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

Key Points

• Wayfair has a “Moderate Buy” consensus among 32 analysts, with 18 buy ratings, three strong-buy ratings, 10 holds, and one sell. The average 12-month price target is $120.61.
• Wayfair’s latest quarterly results exceeded expectations, with adjusted EPS of $0.95 versus a $0.90 consensus estimate and revenue of $3.52 billion, up 7.5% year over year.
• Institutional investors own 89.67% of the company, while insiders sold roughly 288,893 shares worth $29.8 million over the past three months, including sales by insider Jon Blotner and director Steven Conine.

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 stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $120.61.

A number of equities analysts have issued reports on W shares. Needham & Company LLC raised their target price on Wayfair from $83.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Rosenblatt Securities assumed coverage on Wayfair in a research note on Thursday, August 20th. They issued a "buy" rating and a $125.00 price target for the company. The Goldman Sachs Group reiterated a "neutral" rating on shares of Wayfair in a research report on Wednesday, August 5th. Truist Financial lifted their price objective on shares of Wayfair from $99.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley restated an "overweight" rating on shares of Wayfair in a report on Wednesday, August 5th.

Wayfair Stock Performance

Shares of Wayfair stock opened at $101.95 on Wednesday. The firm has a fifty day moving average of $99.70 and a two-hundred day moving average of $84.96. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of -41.44, a PEG ratio of 3.54 and a beta of 2.99. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company earned $0.87 EPS. The firm's revenue was up 7.5% on a year-over-year basis. As a group, research analysts forecast that Wayfair will post 0.93 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 6,968 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total value of $698,332.96. Following the completion of the transaction, the insider owned 110,376 shares of the company's stock, valued at $11,061,882.72. The trade was a 5.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the sale, the director owned 360,073 shares of the company's stock, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 288,893 shares of company stock valued at $29,795,521 over the last three months. 18.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Wayfair during the 4th quarter worth about $117,973,000. Assenagon Asset Management S.A. raised its stake in shares of Wayfair by 23,901.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 575,800 shares of the company's stock valued at $43,306,000 after purchasing an additional 573,401 shares during the period. Atreides Management LP lifted its holdings in shares of Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company's stock valued at $107,625,000 after purchasing an additional 560,133 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in shares of Wayfair by 62.5% in the fourth quarter. Wolf Hill Capital Management LP now owns 1,273,004 shares of the company's stock valued at $127,822,000 after purchasing an additional 489,404 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company's stock worth $77,923,000 after buying an additional 328,358 shares during the period. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.

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