UBS Group Forecasts Strong Price Appreciation for Wayfair (NYSE:W) Stock

Key Points

• UBS Group has raised its target price for Wayfair (NYSE:W) from $91.00 to $102.00, indicating a potential upside of 23.54% from the current price and maintaining a "buy" rating.
• Multiple analysts have recently upgraded their price targets for Wayfair, with Mizuho setting a new target of $88.00 and Wells Fargo increasing theirs to $90.00.
• Wayfair shares experienced a slight decline of 0.7% on Friday, trading at $82.56, with a recent earnings report showing earnings per share of $0.87 exceeding expectations.

Wayfair (NYSE:W - Get Free Report) had its target price upped by investment analysts at UBS Group from $91.00 to $102.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 23.54% from the stock's previous close.

Several other research analysts have also weighed in on W. Mizuho lifted their target price on Wayfair from $50.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on Wayfair from $84.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday. Gordon Haskett raised shares of Wayfair from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 4th. Sanford C. Bernstein reissued a "market perform" rating and set a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Wayfair in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.50.

Wayfair Trading Down 0.7%

Shares of W stock traded down $0.62 on Friday, reaching $82.56. The company had a trading volume of 667,585 shares, compared to its average volume of 4,818,808. The stock has a market cap of $10.70 billion, a PE ratio of -34.38 and a beta of 3.03. The company has a 50-day moving average of $81.71 and a 200-day moving average of $57.13. Wayfair has a 12 month low of $20.41 and a 12 month high of $91.77.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.87 earnings per share 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 analyst estimates of $3.11 billion. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. Sell-side analysts anticipate that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity

In other news, CEO Niraj Shah sold 199,422 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer owned 544,137 shares in the company, valued at $42,660,340.80. This trade represents a 26.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 199,473 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This trade represents a 26.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 910,000 shares of company stock valued at $70,308,337 in the last 90 days. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of W. GAMMA Investing LLC lifted its stake 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 purchasing an additional 609 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Wayfair by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after acquiring an additional 9,372 shares during the period. Ameritas Advisory Services LLC boosted its stake in shares of Wayfair by 304.3% during the 1st quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company's stock worth $672,000 after acquiring an additional 15,742 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Wayfair by 182.7% during the 1st quarter. Vontobel Holding Ltd. now owns 33,717 shares of the company's stock worth $1,080,000 after acquiring an additional 21,790 shares during the period. Finally, Summit Trail Advisors LLC bought a new position in shares of Wayfair during the 1st quarter worth approximately $320,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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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