Wayfair Inc. (NYSE:W) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Wayfair Inc. has received a consensus rating of “Moderate Buy” from 29 brokerages, with a price objective averaging $73.73 among the analysts.
• The company reported $0.87 earnings per share, surpassing analyst expectations, alongside a revenue of $3.27 billion during its last quarter.
• Insiders, including CEO Niraj Shah, have sold a total of 910,000 shares in the last three months, indicating a significant decrease in their ownership stakes.

Wayfair Inc. (NYSE:W - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-nine brokerages that are currently covering the company, MarketBeat reports. Two analysts have 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. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $73.7308.

Several analysts have issued reports on W shares. Stifel Nicolaus set a $68.00 price objective on shares of Wayfair and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Needham & Company LLC raised their price objective on shares of Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Mizuho raised their price objective on shares of Wayfair from $50.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Truist Financial raised their price objective on shares of Wayfair from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wayfair from $75.00 to $82.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 5th.

Wayfair Trading Up 3.9%

Shares of NYSE:W opened at $79.17 on Wednesday. Wayfair has a 12 month low of $20.41 and a 12 month high of $91.77. The company has a 50-day moving average price of $81.42 and a 200 day moving average price of $56.61. The company has a market cap of $10.27 billion, a price-to-earnings ratio of -32.99 and a beta of 3.03.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. As a group, equities analysts forecast that Wayfair will post -2.54 EPS for the current year.

Insider Activity

In other news, CEO Niraj Shah sold 85,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the transaction, the chief executive officer directly owned 374,137 shares of the company's stock, valued at approximately $32,471,350.23. This trade represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 85,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the transaction, the insider directly owned 374,073 shares in the company, valued at approximately $32,465,795.67. This trade represents a 18.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 910,000 shares of company stock valued at $70,308,337. 21.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of W. Alyeska Investment Group L.P. increased its holdings in Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock valued at $174,969,000 after buying an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP increased its holdings in Wayfair by 42.9% during the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company's stock valued at $128,120,000 after buying an additional 1,200,000 shares during the period. AQR Capital Management LLC increased its holdings in Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company's stock valued at $79,673,000 after buying an additional 1,033,865 shares during the period. Holocene Advisors LP increased its holdings in Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company's stock valued at $66,178,000 after buying an additional 1,007,676 shares during the period. Finally, Spruce House Investment Management LLC increased its holdings in Wayfair by 37.6% during the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company's stock valued at $153,420,000 after buying an additional 819,615 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.

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