Wayfair (NYSE:W) Given Buy Rating at UBS Group

Key Points

• UBS Group has raised its target price for Wayfair from $80.00 to $91.00, reflecting a potential upside of 20.55% from the current stock price.
• Wayfair reported a quarterly EPS of $0.87, significantly exceeding analysts' expectations of $0.33, along with revenue of $3.27 billion against a consensus of $3.11 billion.
• A mix of ratings from analysts shows ten hold ratings, fifteen buy ratings, and two strong buy ratings, with an average rating of "Moderate Buy."

Wayfair (NYSE:W - Get Free Report)'s stock had its "buy" rating reissued by analysts at UBS Group in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $91.00 price objective on the stock, up from their prior price objective of $80.00. UBS Group's target price points to a potential upside of 18.57% from the company's previous close.

Several other equities analysts have also issued reports on the stock. Truist Financial set a $40.00 target price on shares of Wayfair in a report on Friday, May 2nd. Mizuho reduced their price objective on Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus set a $68.00 target price on Wayfair and gave the stock a "hold" rating in a report on Tuesday. Morgan Stanley restated an "overweight" rating and issued a $70.00 target price (up previously from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.96.

Wayfair Stock Up 4.2%

Shares of NYSE:W opened at $76.75 on Tuesday. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of -31.98 and a beta of 2.92. Wayfair has a 12 month low of $20.41 and a 12 month high of $77.30. The company's fifty day simple moving average is $54.66 and its 200 day simple moving average is $42.91.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly 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 company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the firm earned $0.47 EPS. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, CEO Niraj Shah sold 179,707 shares of the firm's 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $9,515,792.37. Following the transaction, the insider owned 236,167 shares in the company, valued at $12,420,022.53. This trade represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 800,204 shares of company stock valued at $40,135,236. 21.91% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc acquired a new position in Wayfair during the second quarter worth about $1,007,000. Tabor Asset Management LP lifted its position in shares of Wayfair by 241.1% during the second quarter. Tabor Asset Management LP now owns 102,391 shares of the company's stock worth $5,236,000 after purchasing an additional 72,376 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Wayfair by 9.1% during the 2nd quarter. Penserra Capital Management LLC now owns 120,516 shares of the company's stock valued at $6,162,000 after acquiring an additional 10,058 shares during the last quarter. Savant Capital LLC bought a new position in shares of Wayfair during the second quarter worth about $618,000. Finally, Rothschild & Co Wealth Management UK Ltd boosted its stake in shares of Wayfair by 10.8% during the 2nd quarter. Rothschild & Co Wealth Management UK Ltd now owns 245,603 shares of the company's stock worth $12,560,000 after acquiring an additional 23,855 shares during the period. Hedge funds and other 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.