TD Cowen Boosts Wayfair (NYSE:W) Price Target to $58.00

Wayfair (NYSE:W - Get Free Report) had its target price boosted by equities researchers at TD Cowen from $55.00 to $58.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price objective suggests a potential downside of 8.81% from the stock's current price.

W has been the topic of several other research reports. Royal Bank of Canada reduced their price target on shares of Wayfair from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 24th. Wedbush reaffirmed an "outperform" rating and set a $70.00 price target on shares of Wayfair in a research report on Friday. Barclays cut their target price on Wayfair from $85.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 4th. Morgan Stanley reissued an "overweight" rating and issued a $80.00 target price on shares of Wayfair in a research report on Monday, March 25th. Finally, Raymond James raised Wayfair from a "market perform" rating to a "strong-buy" rating and set a $65.00 target price on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.45.

Wayfair Trading Up 8.5 %

Wayfair stock traded up $4.96 during midday trading on Friday, hitting $63.60. 8,823,444 shares of the stock were exchanged, compared to its average volume of 4,496,439. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -9.75 and a beta of 3.32. The stock's 50-day simple moving average is $59.92 and its 200 day simple moving average is $55.16. Wayfair has a fifty-two week low of $33.85 and a fifty-two week high of $90.71.

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

Insiders Place Their Bets

In related news, CFO Kate Gulliver sold 3,395 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $65.04, for a total value of $220,810.80. Following the sale, the chief financial officer now owns 82,560 shares of the company's stock, valued at approximately $5,369,702.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO Fiona Tan sold 4,884 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.03, for a total value of $317,606.52. Following the completion of the transaction, the chief technology officer now owns 41,027 shares in the company, valued at approximately $2,667,985.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kate Gulliver sold 3,395 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $65.04, for a total value of $220,810.80. Following the completion of the sale, the chief financial officer now owns 82,560 shares in the company, valued at $5,369,702.40. The disclosure for this sale can be found here. Insiders have sold a total of 90,156 shares of company stock valued at $5,465,688 in the last quarter. Insiders own 26.81% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in W. Riverview Trust Co bought a new position in Wayfair during the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wayfair during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in Wayfair during the fourth quarter worth $31,000. BluePath Capital Management LLC bought a new position in shares of Wayfair in the 3rd quarter valued at about $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Wayfair during the 3rd quarter worth approximately $34,000. 89.67% of the stock is owned by institutional investors.

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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