Wayfair (NYSE:W) Given New $60.00 Price Target at Evercore ISI

Wayfair (NYSE:W - Get Free Report) had its price target boosted by investment analysts at Evercore ISI from $50.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price objective suggests a potential upside of 18.88% from the company's current price.

A number of other research firms also recently commented on W. JPMorgan Chase & Co. dropped their price objective on Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Citigroup increased their price target on shares of Wayfair from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada restated a "sector perform" rating and set a $25.00 price objective on shares of Wayfair in a report on Friday, April 25th. Canaccord Genuity Group lowered their target price on shares of Wayfair from $68.00 to $58.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Argus raised shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.61.

Wayfair Trading Up 3.3%

Wayfair stock traded up $1.60 during trading hours on Tuesday, reaching $50.47. 1,413,080 shares of the company were exchanged, compared to its average volume of 5,221,249. Wayfair has a 12 month low of $20.41 and a 12 month high of $58.42. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of -17.71 and a beta of 2.94. The stock has a 50-day moving average of $37.89 and a 200 day moving average of $40.02.

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

Insider Buying and Selling

In other Wayfair news, CFO Kate Gulliver sold 19,296 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares of the company's stock, valued at approximately $4,575,491.58. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 9,798 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $40.02, for a total transaction of $392,115.96. Following the sale, the insider now owns 549,275 shares of the company's stock, valued at $21,981,985.50. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,262 shares of company stock worth $12,530,174 in the last ninety days. Corporate insiders own 21.91% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp grew its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of 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 purchasing an additional 381 shares in the last quarter. California State Teachers Retirement System raised its holdings in Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock worth $3,860,000 after purchasing an additional 383 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Wayfair by 0.3% during the first quarter. Swiss National Bank now owns 183,300 shares of the company's stock valued at $5,871,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

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.

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