Analysts Set Wayfair Inc. (NYSE:W) Target Price at $71.15

Key Points

• Wayfair Inc. has been given a consensus rating of "Moderate Buy" from 27 analysts, with an average 12-month price target of $71.15.
• Insider transactions saw CEO Niraj Shah and another executive sell significant shares of the company, each representing a decrease of around 26.8% in their positions.
• Wayfair reported better-than-expected quarterly earnings with $0.87 EPS on revenue of $3.27 billion, exceeding analyst forecasts.

Shares of Wayfair Inc. (NYSE:W - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, fifteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $71.1538.

A number of research firms have recently commented on W. Needham & Company LLC increased their target price on Wayfair from $40.00 to $83.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Raymond James Financial reiterated a "strong-buy" rating on shares of Wayfair in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price target on Wayfair from $25.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. Piper Sandler restated an "overweight" rating and issued a $95.00 price target on shares of Wayfair in a research report on Monday, August 4th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research report on Tuesday, August 5th.

Insiders Place Their Bets

In related news, CEO Niraj Shah sold 85,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the chief executive officer directly owned 459,137 shares in the company, valued at $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the insider owned 459,073 shares of the company's stock, valued at approximately $36,757,975.11. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,173,857 shares of company stock valued at $78,435,227. 21.91% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans bought a new stake in shares of Wayfair during the second quarter worth $661,000. Marex Group plc bought a new stake in shares of Wayfair during the second quarter worth $652,000. Advisory Services Network LLC bought a new stake in shares of Wayfair during the second quarter worth $553,000. Two Sigma Securities LLC lifted its position in shares of Wayfair by 136.0% during the second quarter. Two Sigma Securities LLC now owns 17,458 shares of the company's stock worth $893,000 after purchasing an additional 10,061 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Wayfair by 16.3% during the second quarter. Tidal Investments LLC now owns 14,232 shares of the company's stock worth $728,000 after purchasing an additional 1,994 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wayfair Price Performance

Shares of NYSE W traded up $0.89 during midday trading on Friday, reaching $89.28. 4,819,005 shares of the stock traded hands, compared to its average volume of 3,764,924. The stock has a market capitalization of $11.58 billion, a PE ratio of -37.20 and a beta of 2.95. Wayfair has a one year low of $20.41 and a one year high of $91.77. The company's 50 day moving average is $74.28 and its 200 day moving average is $50.72.

Wayfair (NYSE:W - Get Free Report) last posted its 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 firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, equities analysts forecast that Wayfair will post -2.54 EPS for the current year.

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.