Wayfair Inc. (NYSE:W) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Wayfair Inc. (NYSE:W - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-five analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $43.83.

Several research firms recently commented on W. Raymond James set a $60.00 price target on shares of Wayfair and gave the company a "strong-buy" rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target on the stock. in a report on Monday, April 14th. Wedbush upgraded shares of Wayfair to a "hold" rating in a report on Thursday, May 1st. Evercore ISI raised their price target on shares of Wayfair from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Zelman & Associates assumed coverage on shares of Wayfair in a research note on Thursday, May 15th. They set an "outperform" rating on the stock.

Wayfair Price Performance

NYSE W traded up $0.09 during mid-day trading on Friday, hitting $36.31. The company's stock had a trading volume of 2,742,179 shares, compared to its average volume of 4,732,969. Wayfair has a 52-week low of $20.41 and a 52-week high of $63.30. The stock's fifty day simple moving average is $31.55 and its two-hundred day simple moving average is $39.86. The firm has a market capitalization of $4.61 billion, a P/E ratio of -9.03 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly 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 business had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. The company's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction 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 completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. The trade was a 17.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 9,798 shares of Wayfair stock in a transaction on Monday, May 12th. The stock was sold at an average price of $40.02, for a total transaction of $392,115.96. Following the completion of the sale, the insider now owns 549,275 shares of the company's stock, valued at approximately $21,981,985.50. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,330 shares of company stock worth $3,377,506. Insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently added to or reduced their stakes in W. True Wealth Design LLC boosted its holdings in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp boosted its holdings in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp boosted its holdings in 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 purchasing an additional 502 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the fourth quarter worth $41,000. Finally, GAMMA Investing LLC boosted its holdings in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the period. Institutional investors and hedge funds 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.