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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Wayfair, with 17 buy ratings, 11 holds, one sell and one strong buy. The average 12-month price target is approximately $118.04.
• Wayfair’s latest quarterly results exceeded expectations, reporting $0.95 in adjusted EPS versus a $0.90 estimate and $3.52 billion in revenue versus $3.47 billion expected; revenue increased 7.5% year over year.
• Shares opened at $103.32 and remain volatile, with a beta of 2.99 and a 52-week range of $55.60 to $119.98. Institutional investors own 89.67% of the company, while insiders own 18.44%.

Shares of Wayfair Inc. (NYSE:W - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $118.0385.

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Wayfair from $105.00 to $115.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. The Goldman Sachs Group reissued a "neutral" rating on shares of Wayfair in a research note on Wednesday, August 5th. Needham & Company LLC increased their price target on shares of Wayfair from $83.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Citigroup cut their price target on shares of Wayfair from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th.

Wayfair Trading Down 3.1%

Shares of NYSE W opened at $103.32 on Tuesday. The business has a fifty day simple moving average of $88.00 and a 200 day simple moving average of $81.73. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of -42.00, a PEG ratio of 5.73 and a beta of 2.99. Wayfair has a one year low of $55.60 and a one year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.Wayfair's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. On average, research analysts anticipate that Wayfair will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jon Blotner sold 5,925 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the transaction, the insider directly owned 117,344 shares of the company's stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Covenant Asset Management LLC acquired a new position in shares of Wayfair during the 4th quarter worth about $4,403,000. North Dakota State Investment Board acquired a new stake in Wayfair in the 4th quarter valued at about $3,636,000. Vanguard Group Inc. lifted its stake in Wayfair by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock valued at $967,426,000 after purchasing an additional 72,707 shares during the last quarter. M&T Bank Corp grew its holdings in Wayfair by 3,713.2% during the fourth quarter. M&T Bank Corp now owns 168,505 shares of the company's stock worth $16,920,000 after purchasing an additional 164,086 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Wayfair during the fourth quarter worth approximately $48,004,000. Institutional investors own 89.67% of the company's stock.

Wayfair Company Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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