Wayfair (NYSE:W) Coverage Initiated at Rosenblatt Securities

Key Points

• Rosenblatt Securities initiated coverage of Wayfair with a “buy” rating and a $125 price target, implying 16.16% upside from the stock’s prior close.
• Wayfair’s latest quarter exceeded expectations, with adjusted EPS of $0.95 versus $0.90 expected and revenue of $3.52 billion, up 7.5% year over year.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $119.89, although insiders sold a combined 143,925 shares worth $14.8 million over the past three months.

Equities research analysts at Rosenblatt Securities started coverage on shares of Wayfair (NYSE:W - Get Free Report) in a research note issued on Thursday. The firm set a "buy" rating and a $125.00 price target on the stock. Rosenblatt Securities' target price would indicate a potential upside of 16.16% from the stock's previous close.

A number of other equities analysts have also recently issued reports on W. UBS Group raised their target price on shares of Wayfair from $118.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Robert W. Baird set a $116.00 price target on Wayfair in a research report on Wednesday, August 5th. Morgan Stanley reissued an "overweight" rating on shares of Wayfair in a report on Wednesday, August 5th. Wedbush boosted their price objective on Wayfair from $85.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, Evercore reaffirmed an "outperform" rating and issued a $130.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $119.89.

Wayfair Price Performance

Shares of W opened at $107.61 on Thursday. The stock has a market capitalization of $14.21 billion, a PE ratio of -43.75, a price-to-earnings-growth ratio of 4.51 and a beta of 2.99. The business's fifty day moving average price is $92.61 and its 200 day moving average price is $81.41. Wayfair has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm posted $0.87 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Wayfair will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, CEO Niraj Shah sold 69,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer owned 360,137 shares of the company's stock, valued at approximately $37,223,760.32. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the director directly owned 360,073 shares in the company, valued at $37,217,145.28. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 143,925 shares of company stock worth $14,834,198 in the last three months. 18.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of W. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Wayfair by 29.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company's stock worth $2,147,000 after buying an additional 15,084 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Wayfair by 30.4% in the second quarter. Prudential Financial Inc. now owns 7,328 shares of the company's stock valued at $375,000 after acquiring an additional 1,710 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company's stock valued at $126,000 after acquiring an additional 270 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Wayfair during the second quarter valued at approximately $262,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock valued at $42,000 after acquiring an additional 653 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source