Wayfair (NYSE:W) Price Target Increased to $55.00 by Analysts at TD Cowen

Wayfair (NYSE:W - Free Report) had its target price boosted by TD Cowen from $50.00 to $55.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts also recently commented on W. Stifel Nicolaus lifted their target price on shares of Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. Piper Sandler reissued an overweight rating and issued a $88.00 price objective (down previously from $93.00) on shares of Wayfair in a research note on Friday, February 23rd. Wedbush restated an outperform rating and issued a $70.00 price objective on shares of Wayfair in a report on Monday. Mizuho began coverage on Wayfair in a report on Tuesday, March 19th. They set a buy rating and a $72.00 target price on the stock. Finally, Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target on the stock in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $76.21.

Wayfair Price Performance

W traded down $4.84 on Wednesday, hitting $52.91. 6,792,961 shares of the stock were exchanged, compared to its average volume of 4,297,195. The business has a 50-day moving average of $59.60 and a two-hundred day moving average of $55.08. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -8.19 and a beta of 3.29. Wayfair has a 12 month low of $29.51 and a 12 month high of $90.71.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Equities research analysts expect that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 3,395 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.04, for a total transaction of $220,810.80. Following the completion of the transaction, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kate Gulliver sold 3,395 shares of the business's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $65.04, for a total transaction of $220,810.80. Following the sale, the chief financial officer now directly owns 82,560 shares in the company, valued at approximately $5,369,702.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the firm's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the transaction, the insider now owns 32,118 shares of the company's stock, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Insiders have sold a total of 89,808 shares of company stock worth $5,445,222 over the last three months. 23.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company's stock worth $743,004,000 after acquiring an additional 962,307 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company's stock valued at $500,014,000 after purchasing an additional 273,652 shares in the last quarter. Atreides Management LP lifted its stake in Wayfair by 1.8% during the third quarter. Atreides Management LP now owns 971,206 shares of the company's stock worth $58,826,000 after purchasing an additional 16,932 shares during the last quarter. Norges Bank purchased a new position in shares of Wayfair in the 4th quarter worth about $47,374,000. Finally, Wellington Management Group LLP increased its position in shares of Wayfair by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company's stock valued at $47,169,000 after purchasing an additional 119,873 shares during the last quarter. 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.