Gordon Haskett Upgrades Wayfair (NYSE:W) to "Moderate Buy"

Key Points

• Gordon Haskett has upgraded Wayfair from a "hold" rating to a "moderate buy" rating, indicating a positive shift in investor sentiment.
• Wayfair's stock has seen varied price objectives from different brokerages, with Mizuho increasing their target to $88.00 and Deutsche Bank lowering it to $25.00.
• Wayfair reported quarterly earnings that exceeded expectations, with a revenue of $3.27 billion and EPS of $0.87, marking a year-over-year revenue increase of 5.0%.

Wayfair (NYSE:W - Get Free Report) was upgraded by Gordon Haskett from a "hold" rating to a "moderate buy" rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages also recently commented on W. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research report on Tuesday. Mizuho upped their price objective on Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a research report on Tuesday. Zelman & Associates reaffirmed an "outperform" rating and issued a $96.00 price objective (up previously from $85.00) on shares of Wayfair in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a research report on Monday, April 14th. Finally, The Goldman Sachs Group upped their price objective on Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $65.96.

Wayfair Price Performance

Shares of W opened at $76.75 on Monday. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of -31.98 and a beta of 2.92. Wayfair has a 1 year low of $20.41 and a 1 year high of $77.30. The business's 50 day simple moving average is $54.66 and its 200-day simple moving average is $42.91.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. The firm's revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, sell-side analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 13,857 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total value of $782,227.65. Following the sale, the insider directly owned 91,263 shares of the company's stock, valued at approximately $5,151,796.35. This trade represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $56.03, for a total value of $3,361,800.00. Following the completion of the sale, the chief executive officer directly owned 169,137 shares in the company, valued at approximately $9,476,746.11. The trade was a 26.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 800,204 shares of company stock valued at $40,135,236 over the last ninety days. Company insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Several institutional investors have recently bought and sold shares of W. Amalgamated Bank lifted its position in shares of Wayfair by 5.5% in the second quarter. Amalgamated Bank now owns 5,348 shares of the company's stock valued at $273,000 after acquiring an additional 278 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after acquiring an additional 381 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock valued at $3,860,000 after acquiring an additional 383 shares in the last quarter. Swiss National Bank lifted its position in shares of Wayfair by 0.3% in the first quarter. Swiss National Bank now owns 183,300 shares of the company's stock valued at $5,871,000 after acquiring an additional 600 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.

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