Wayfair Inc. (NYSE:W) Receives Average Rating of "Hold" from Brokerages

Wayfair Inc. (NYSE:W - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-six ratings firms that are presently covering the firm, MarketBeat.com reports. Fifteen equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $50.28.

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of Wayfair from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday. Royal Bank of Canada reiterated a "sector perform" rating and set a $25.00 price target on shares of Wayfair in a research note on Friday. BMO Capital Markets increased their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a research note on Friday, February 21st. Stifel Nicolaus decreased their price target on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Wayfair in a research note on Monday, March 10th.

Wayfair Stock Up 6.0 %

W traded up $1.76 on Wednesday, reaching $31.01. The company had a trading volume of 7,550,852 shares, compared to its average volume of 4,645,787. Wayfair has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a market capitalization of $3.94 billion, a PE ratio of -7.71 and a beta of 3.72. The stock has a 50-day moving average price of $32.24 and a 200-day moving average price of $41.29.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.07 billion. As a group, analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, CTO Fiona Tan sold 23,835 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. This trade represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,863 shares of company stock worth $3,393,929 over the last quarter. 21.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC raised its stake in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after buying an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Wayfair in the fourth quarter worth $41,000. Hedge funds and other 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.