Wayfair (NYSE:W) Given "Market Perform" Rating at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein has increased its price target for Wayfair (NYSE:W) from $50.00 to $70.00, indicating a potential downside of 4.96% from the current stock price.
• Wayfair's stock was trading at $73.66 on Tuesday, with a market capitalization of $9.45 billion and a 52-week trading range between $20.41 and $76.29.
• Recent quarterly earnings showed $0.87 EPS, exceeding expectations and marking a 5.0% increase in revenue year-over-year, with analysts predicting a -2.54 EPS for the current fiscal year.

Sanford C. Bernstein reaffirmed their market perform rating on shares of Wayfair (NYSE:W - Free Report) in a research report report published on Tuesday, MarketBeat.com reports. They currently have a $70.00 target price on the stock, up from their prior target price of $50.00.

W has been the subject of several other reports. TD Cowen raised shares of Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. boosted their price objective on shares of Wayfair from $75.00 to $82.00 and gave the company an "overweight" rating in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Canaccord Genuity Group upped their price target 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. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Wayfair in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.96.

Wayfair Price Performance

W stock traded down $0.99 during midday trading on Tuesday, hitting $72.29. The stock had a trading volume of 2,953,164 shares, compared to its average volume of 5,104,513. The firm has a market cap of $9.28 billion, a PE ratio of -30.12 and a beta of 2.92. Wayfair has a 12-month low of $20.41 and a 12-month high of $78.06. The company's 50-day moving average price is $55.89 and its 200 day moving average price is $43.23.

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 the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 179,707 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total value of $9,448,994.06. Following the completion of the transaction, the chief executive officer directly owned 236,850 shares in the company, valued at $12,453,573. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 180,943 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the transaction, the insider owned 236,167 shares of the company's stock, valued at $12,420,022.53. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 851,309 shares of company stock valued at $44,081,005 over the last quarter. Insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Wayfair during the 4th quarter valued at about $41,000. GAMMA Investing LLC boosted its position in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after acquiring an additional 1,097 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after acquiring an additional 617 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

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.