Wayfair Inc. (NYSE:W) Receives Consensus Rating of "Moderate Buy" from Analysts

Wayfair Inc. (NYSE:W - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-seven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $45.67.

Several analysts recently weighed in on W shares. Morgan Stanley reissued an "overweight" rating and set a $70.00 price target (up from $50.00) on shares of Wayfair in a report on Wednesday, July 2nd. Canaccord Genuity Group dropped their target price on Wayfair from $68.00 to $58.00 and set a "buy" rating for the company in a report on Monday, April 28th. Loop Capital restated a "sell" rating and issued a $35.00 price target on shares of Wayfair in a research note on Wednesday, May 14th. Mizuho lowered their price target on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Wayfair in a report on Thursday, May 1st.

Wayfair Stock Down 3.0%

Shares of NYSE W traded down $1.69 during midday trading on Monday, hitting $55.10. 5,232,803 shares of the company's stock were exchanged, compared to its average volume of 4,850,264. The firm has a market capitalization of $7.07 billion, a PE ratio of -19.33 and a beta of 2.97. The company's 50 day moving average price is $42.50 and its 200 day moving average price is $40.13. Wayfair has a 12 month low of $20.41 and a 12 month high of $58.42.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. The firm's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) earnings per share. On average, equities research analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 179,707 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total transaction of $9,448,994.06. Following the completion of the sale, the chief executive officer directly owned 236,850 shares in the company, valued at $12,453,573. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 180,943 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total value of $9,515,792.37. Following the sale, the insider owned 236,167 shares of the company's stock, valued at approximately $12,420,022.53. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 652,067 shares of company stock valued at $31,829,662 over the last 90 days. 21.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently added to or reduced their stakes in the business. Stonehearth Capital Management LLC bought a new stake in shares of Wayfair in the 2nd quarter valued at $265,000. Rhumbline Advisers increased its stake in Wayfair by 4.3% in the first quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock valued at $2,923,000 after purchasing an additional 3,725 shares in the last quarter. Strs Ohio acquired a new position in shares of Wayfair during the first quarter valued at about $3,043,000. Fred Alger Management LLC raised its holdings in shares of Wayfair by 40.1% during the first quarter. Fred Alger Management LLC now owns 88,264 shares of the company's stock valued at $2,827,000 after purchasing an additional 25,260 shares during the period. Finally, Scientech Research LLC boosted its position in shares of Wayfair by 33.1% during the 1st quarter. Scientech Research LLC now owns 36,187 shares of the company's stock worth $1,159,000 after purchasing an additional 9,003 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

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.