Wayfair Inc. (NYSE:W) Receives $67.65 Average PT from Brokerages

Key Points

• Wayfair Inc. has received a consensus rating of “Moderate Buy” from 27 brokerages, with an average 12-month price target of $67.65.
• CEO Niraj Shah and insider Steven Conine each sold 85,000 shares at an average price of $80.07, representing a 15.62% decrease in their ownership.
• Wayfair reported a 5% year-over-year revenue increase for the last quarter, posting a revenue of $3.27 billion and an EPS of $0.87, surpassing analyst expectations.

Shares of Wayfair Inc. (NYSE:W - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-seven ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, fifteen have given 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 $69.1923.

Several research firms have recently issued reports on W. Wedbush reissued a "neutral" rating on shares of Wayfair in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 target price (up previously from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Wall Street Zen raised shares of Wayfair from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company set a $84.00 target price on shares of Wayfair and gave the stock an "overweight" rating in a report on Tuesday, August 5th.

Insiders Place Their Bets

In other news, insider Steven Conine sold 199,473 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider owned 544,073 shares of the company's stock, valued at $42,655,323.20. This represents a 26.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 199,422 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares in the company, valued at $42,660,340.80. The trade was a 26.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,240,204 shares of company stock worth $81,706,986 in the last three months. Insiders own 21.91% of the company's stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in 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 buying an additional 381 shares during the period. GAMMA Investing LLC raised its holdings in Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after purchasing an additional 653 shares in the last quarter. Parallel Advisors LLC raised its holdings in Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after purchasing an additional 1,097 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Wayfair by 49.3% in the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock worth $96,000 after purchasing an additional 617 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Stock Performance

W traded up $1.16 during midday trading on Tuesday, reaching $75.65. The company had a trading volume of 2,678,664 shares, compared to its average volume of 5,134,366. The stock has a market cap of $9.81 billion, a PE ratio of -31.52 and a beta of 2.92. Wayfair has a 12-month low of $20.41 and a 12-month high of $81.94. The business has a 50-day moving average price of $63.78 and a two-hundred day moving average price of $45.84.

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

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.