Stifel Nicolaus Raises Wayfair (NYSE:W) Price Target to $80.00

Key Points

• Stifel Nicolaus has raised its price target for Wayfair (NYSE:W) from $68.00 to $80.00, maintaining a "hold" rating, indicating a potential downside of 6.76% from the current price.
• Wayfair's stock has seen a significant performance increase, trading up 3.2% to reach $85.80, with analysts predicting a negative EPS of -2.54 for the current fiscal year.
• Recent insider sales of 85,000 shares each by CEO Niraj Shah and insider Steven Conine represent a 22.72% decrease in their ownership, highlighting potential concerns regarding the company's stock confidence.

Wayfair (NYSE:W - Get Free Report) had its price target increased by analysts at Stifel Nicolaus from $68.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential downside of 6.76% from the stock's current price.

A number of other research analysts have also issued reports on W. Wells Fargo & Company lifted their target price on Wayfair from $84.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, October 15th. Wedbush reissued a "neutral" rating on shares of Wayfair in a research note on Tuesday, August 5th. Jefferies Financial Group lifted their price target on Wayfair from $91.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. lifted their target price on Wayfair from $75.00 to $82.00 and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their target price on Wayfair from $25.00 to $51.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average price target of $76.88.

Wayfair Stock Up 3.2%

NYSE W traded up $2.68 during trading hours on Friday, hitting $85.80. The company had a trading volume of 645,366 shares, compared to its average volume of 4,758,066. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $91.77. The business has a fifty day simple moving average of $82.39 and a 200-day simple moving average of $58.97. The firm has a market cap of $11.12 billion, a P/E ratio of -35.77 and a beta of 3.03.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the business posted $0.47 earnings per share. Wayfair's revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Conine sold 85,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $82.85, for a total transaction of $7,042,250.00. Following the sale, the insider owned 289,073 shares in the company, valued at approximately $23,949,698.05. This represents a 22.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Niraj Shah sold 85,000 shares of the company's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00. Following the transaction, the chief executive officer directly owned 289,137 shares in the company, valued at $23,955,000.45. This trade represents a 22.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 960,000 shares of company stock worth $77,669,837 over the last quarter. Company insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

Several large investors have recently made changes to their positions in W. True Wealth Design LLC boosted its holdings in Wayfair by 250.5% during the third quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $29,000 after buying an additional 233 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company's stock worth $29,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC raised its position in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after purchasing an additional 653 shares during the period. Finally, Parallel Advisors LLC raised its position 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 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.

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