Wayfair (NYSE:W) Price Target Raised to $56.00

Key Points

• Stifel Nicolaus has raised Wayfair's price target from $32.00 to $56.00, signaling a potential downside of 15.48% from the stock's previous close.
• The stock is currently rated as a "hold" by Stifel Nicolaus, while other analysts have varied opinions with 14 buy ratings and 12 hold ratings as per consensus data.
• Wayfair recently reported a quarterly earnings per share (EPS) of $0.10, exceeding estimates, with revenue showing a 0% year-over-year growth to $2.73 billion.

Wayfair (NYSE:W - Get Free Report) had its price target upped by analysts at Stifel Nicolaus from $32.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target suggests a potential downside of 14.15% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Loop Capital reiterated a "sell" rating and issued a $35.00 price objective on shares of Wayfair in a research report on Wednesday, May 14th. Evercore ISI lifted their price objective on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Bank of America lifted their price objective on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $25.00 price objective on shares of Wayfair in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.85.

Wayfair Stock Down 0.6%

Shares of NYSE:W traded down $0.41 during trading on Tuesday, reaching $65.23. The stock had a trading volume of 6,786,779 shares, compared to its average volume of 5,121,043. Wayfair has a 52 week low of $20.41 and a 52 week high of $68.50. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -22.89 and a beta of 2.97. The stock has a fifty day simple moving average of $52.00 and a two-hundred day simple moving average of $42.11.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. On average, analysts forecast that Wayfair will post -2.54 EPS for the current year.

Insider Buying and Selling at Wayfair

In related news, CEO Niraj Shah sold 179,707 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $12,453,573. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 180,943 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total value of $9,515,792.37. Following the completion of the sale, the insider owned 236,167 shares in the company, valued at approximately $12,420,022.53. This trade represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 800,204 shares of company stock valued at $40,135,236 over the last three months. 21.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

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