Wayfair Inc. (NYSE:W) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Wayfair Inc. has received a consensus rating of “Moderate Buy” from 28 brokerages, with an average 1-year price target of $50.85.
• Insider activities include significant sell-offs, with CEO Niraj Shah selling 60,000 shares for approximately $3.36 million, indicating a 26.19% decrease in his ownership.
• Hedge funds have actively increased their holdings in Wayfair, with Alyeska Investment Group L.P. boosting its stake by 681.8%, now owning 5.46 million shares valued at $175 million.

Wayfair Inc. (NYSE:W - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $50.85.

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Wayfair from $48.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday. Bank of America raised their target price on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Jefferies Financial Group restated a "buy" rating on shares of Wayfair in a research note on Tuesday, July 1st. Morgan Stanley restated an "overweight" rating and issued a $70.00 target price (up from $50.00) on shares of Wayfair in a research note on Wednesday, July 2nd. Finally, Loop Capital restated a "sell" rating and issued a $35.00 target price on shares of Wayfair in a research note on Wednesday, May 14th.

Wayfair Stock Performance

Shares of W stock traded down $0.41 during mid-day trading on Friday, hitting $65.23. The company's stock had a trading volume of 6,786,779 shares, compared to its average volume of 4,283,569. The company's fifty day simple moving average is $52.00 and its 200-day simple moving average is $42.11. Wayfair has a 52 week low of $20.41 and a 52 week high of $68.50. The company has a market cap of $8.37 billion, a PE ratio of -22.89 and a beta of 2.92.

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

Insider Buying and Selling

In related news, insider Steven Conine sold 60,000 shares of Wayfair stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $56.02, for a total value of $3,361,200.00. Following the sale, the insider owned 169,073 shares of the company's stock, valued at approximately $9,471,469.46. The trade was a 26.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 13,857 shares of Wayfair stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the sale, the insider directly owned 91,263 shares in the company, valued at $5,151,796.35. This trade represents a 13.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 800,204 shares of company stock valued at $40,135,236. 21.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of W. True Wealth Design LLC grew its position 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. California State Teachers Retirement System grew its position in shares of Wayfair by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock valued at $3,860,000 after purchasing an additional 383 shares in the last quarter. Swiss National Bank grew its position in shares of Wayfair by 0.3% during the 1st quarter. Swiss National Bank now owns 183,300 shares of the company's stock valued at $5,871,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC grew 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 purchasing an additional 609 shares in the last quarter. Finally, IFP Advisors Inc grew 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 purchasing an additional 617 shares in the last quarter. Institutional investors 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.