Wedbush Reiterates "Outperform" Rating for Wayfair (NYSE:W)

Wayfair (NYSE:W - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $70.00 price objective on the stock. Wedbush's price objective suggests a potential upside of 10.06% from the stock's previous close.

A number of other equities research analysts have also issued reports on W. Piper Sandler reaffirmed an "overweight" rating and set a $91.00 target price (up previously from $88.00) on shares of Wayfair in a report on Friday. Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 price objective on shares of Wayfair in a report on Friday, February 23rd. Morgan Stanley reissued an "overweight" rating and issued a $80.00 target price on shares of Wayfair in a research note on Monday, March 25th. Mizuho started coverage on Wayfair in a research report on Tuesday, March 19th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Stifel Nicolaus increased their price target on Wayfair from $52.00 to $55.00 and gave the company a "hold" rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.45.

Wayfair Stock Performance

NYSE W traded up $4.96 during mid-day trading on Friday, reaching $63.60. 8,823,444 shares of the stock were exchanged, compared to its average volume of 4,496,439. The business's 50 day moving average is $59.92 and its 200-day moving average is $55.16. Wayfair has a 1 year low of $33.85 and a 1 year high of $90.71. The company has a market capitalization of $7.65 billion, a P/E ratio of -9.75 and a beta of 3.32.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $3.10 billion. Equities analysts predict that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, COO Thomas Netzer sold 20,000 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares of the company's stock, valued at approximately $6,964,665.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Thomas Netzer sold 20,000 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares of the company's stock, valued at approximately $6,964,665.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Insiders have sold a total of 90,156 shares of company stock worth $5,465,688 over the last ninety days. Corporate insiders own 26.81% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Wayfair by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 398,795 shares of the company's stock worth $24,606,000 after buying an additional 94,540 shares during the period. Federated Hermes Inc. purchased a new position in shares of Wayfair in the 3rd quarter valued at approximately $1,147,000. Vanguard Group Inc. grew its stake in shares of Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company's stock valued at $474,281,000 after purchasing an additional 386,717 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Wayfair by 3,978.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the company's stock valued at $22,235,000 after purchasing an additional 358,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Wayfair by 88.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company's stock valued at $38,438,000 after purchasing an additional 297,235 shares during the last quarter. Institutional investors and hedge funds 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.