Wayfair (NYSE:W) Stock Price Expected to Rise, Evercore ISI Analyst Says

Wayfair (NYSE:W - Get Free Report) had its price objective hoisted by equities researchers at Evercore ISI from $50.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 17.41% from the company's current price.

Other analysts have also issued research reports about the company. Piper Sandler reaffirmed an "overweight" rating and issued a $61.00 price objective (up previously from $46.00) on shares of Wayfair in a report on Friday, June 13th. Deutsche Bank Aktiengesellschaft downgraded Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a research note on Monday, April 14th. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Monday, May 12th. Truist Financial set a $40.00 target price on shares of Wayfair in a research report on Friday, May 2nd. Finally, Zelman & Associates initiated coverage on shares of Wayfair in a research report on Thursday, May 15th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.61.

Wayfair Stock Up 0.9%

Shares of NYSE:W traded up $0.44 on Tuesday, hitting $51.10. The company had a trading volume of 2,453,038 shares, compared to its average volume of 4,792,840. The firm's 50-day simple moving average is $39.35 and its two-hundred day simple moving average is $40.14. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -17.86 and a beta of 2.94. Wayfair has a 1 year low of $20.41 and a 1 year 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 (EPS) for the quarter, topping analysts' consensus estimates 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. Wayfair's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. Equities research analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 23,835 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total transaction of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. This represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 2,246 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total value of $89,862.46. Following the completion of the sale, the insider now owns 542,168 shares in the company, valued at approximately $21,692,141.68. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,262 shares of company stock valued at $12,530,174 in the last ninety days. Corporate insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. grew its stake in Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after acquiring an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares during the period. Capital World Investors grew its stake in Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Norges Bank bought a new position in Wayfair in the fourth quarter worth approximately $31,472,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Wayfair during the 4th quarter valued at $30,735,000. 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.