Wayfair Inc. (NYSE:W) Receives $45.67 Consensus Price Target from Analysts

Wayfair Inc. (NYSE:W - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $45.67.

A number of equities research analysts have recently commented on the stock. Mizuho reduced their target price on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft cut shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 target price for the company. in a research report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Wayfair in a research report on Thursday, May 1st. UBS Group cut their price objective on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler restated an "overweight" rating and set a $61.00 price objective (up from $46.00) on shares of Wayfair in a research report on Friday, June 13th.

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 179,707 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total value of $9,448,994.06. Following the completion of the transaction, the chief executive officer owned 236,850 shares of the company's stock, valued at approximately $12,453,573. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 180,943 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the transaction, the insider directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 666,874 shares of company stock valued at $32,647,157. Insiders own 21.91% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Stonehearth Capital Management LLC purchased a new position in Wayfair in the second quarter worth approximately $265,000. Rhumbline Advisers lifted its stake in Wayfair by 4.3% in the first quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock worth $2,923,000 after acquiring an additional 3,725 shares during the last quarter. Strs Ohio purchased a new position in Wayfair in the first quarter worth approximately $3,043,000. Fred Alger Management LLC lifted its stake in Wayfair by 40.1% in the first quarter. Fred Alger Management LLC now owns 88,264 shares of the company's stock worth $2,827,000 after acquiring an additional 25,260 shares during the last quarter. Finally, Scientech Research LLC lifted its stake in Wayfair by 33.1% in the first quarter. Scientech Research LLC now owns 36,187 shares of the company's stock worth $1,159,000 after acquiring an additional 9,003 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Wayfair Trading Down 3.0%

NYSE:W traded down $1.69 during trading hours on Monday, reaching $55.10. 5,232,915 shares of the company were exchanged, compared to its average volume of 4,850,294. The stock's 50-day moving average is $42.50 and its 200-day moving average is $40.13. The firm has a market cap of $7.07 billion, a PE ratio of -19.33 and a beta of 2.97. Wayfair has a twelve month low of $20.41 and a twelve month high of $58.42.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. Wayfair's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) earnings per share. As a group, research analysts anticipate that Wayfair will post -2.54 EPS 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.