Guggenheim Reaffirms "Buy" Rating for Wayfair (NYSE:W)

Key Points

• Guggenheim has reiterated its "Buy" rating for Wayfair, setting a price target of $90.00, which suggests a potential upside of 21.84% from the previous close.
• Recent ratings from analysts also reflect optimism, with Goldman Sachs increasing its target from $31.00 to $80.00 and Canaccord Genuity raising it from $58.00 to $70.00, both giving buy ratings.
• Wayfair's recent earnings report showed $0.87 EPS for the quarter, exceeding analysts' expectations, with revenue of $3.27 billion, up 5% year-over-year.

Wayfair (NYSE:W - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They currently have a $90.00 price target on the stock. Guggenheim's price objective indicates a potential upside of 21.84% from the company's previous close.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group upped their price objective on shares of Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Canaccord Genuity Group increased their price objective on shares of Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Zelman & Associates increased their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. UBS Group increased their price objective on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Wayfair from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Wayfair Stock Performance

Shares of W stock traded up $0.88 on Wednesday, reaching $73.87. 330,386 shares of the company were exchanged, compared to its average volume of 5,133,073. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -30.84 and a beta of 2.92. The business has a 50-day moving average price of $63.27 and a 200 day moving average price of $45.64. Wayfair has a 1 year low of $20.41 and a 1 year high of $81.94.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the sale, the chief executive officer directly owned 544,137 shares in the company, valued at $42,660,340.80. The trade was a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 199,473 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the sale, the insider owned 544,073 shares of the company's stock, valued at approximately $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,240,204 shares of company stock valued at $81,706,986 in the last ninety days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Wayfair by 5,850.4% in the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after purchasing an additional 41,538 shares during the period. SG Americas Securities LLC boosted its stake in shares of Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock valued at $703,000 after purchasing an additional 9,372 shares during the period. Northern Trust Corp boosted its stake in shares of Wayfair by 11.4% in the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company's stock valued at $20,540,000 after purchasing an additional 47,326 shares during the period. Algert Global LLC purchased a new position in shares of Wayfair in the first quarter valued at $869,000. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Wayfair by 304.3% in the first quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company's stock valued at $672,000 after purchasing an additional 15,742 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

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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