Wayfair (NYSE:W) Price Target Raised to $102.00

Key Points

• Jefferies Financial Group has raised its price target for Wayfair (NYSE:W) from $91.00 to $102.00, indicating a potential upside of 12.62% from the current stock price.
• Wayfair reported $0.87 EPS for its recent quarter, surpassing estimates, with revenue of $3.27 billion reflecting a 5% year-over-year increase.
• Insiders have sold over 1.17 million shares of Wayfair stock in the past 90 days, indicating significant selling activity by executives.

Wayfair (NYSE:W - Get Free Report) had its price target increased by equities researchers at Jefferies Financial Group from $91.00 to $102.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 19.53% from the company's current price.

A number of other brokerages have also recently weighed in on W. Citigroup raised shares of Wayfair from a "neutral" rating to a "buy" rating and increased their target price for the stock from $32.00 to $93.00 in a report on Tuesday, August 5th. Mizuho boosted their price target on shares of Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. 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 report on Monday, July 28th. Wall Street Zen upgraded shares of Wayfair from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, TD Cowen upgraded shares of Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.15.

Wayfair Trading Down 4.4%

NYSE W traded down $3.97 during trading hours on Friday, reaching $85.34. 3,237,631 shares of the company traded hands, compared to its average volume of 4,998,197. The stock has a market capitalization of $11.06 billion, a PE ratio of -35.56 and a beta of 2.95. Wayfair has a 12 month low of $20.41 and a 12 month high of $91.77. The company has a 50 day moving average of $74.86 and a two-hundred day moving average of $51.20.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the company posted $0.47 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity

In related news, CEO Niraj Shah sold 199,422 shares of the firm'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 approximately $42,660,340.80. This trade represents a 26.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the completion of the transaction, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This represents a 26.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,173,857 shares of company stock valued at $78,435,227. Insiders own 21.91% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of W. AQR Capital Management LLC lifted its position in shares of Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock worth $16,786,000 after purchasing an additional 276,471 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Wayfair during the first quarter valued at $452,000. GAMMA Investing LLC grew its stake in 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 in the last quarter. SG Americas Securities LLC grew its stake in 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 in the last quarter. Finally, Rhumbline Advisers increased its position in Wayfair by 4.3% in the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock worth $2,923,000 after purchasing an additional 3,725 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

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.