Wayfair (NYSE:W) Price Target Raised to $80.00

Key Points

• Wayfair's target price has been raised by UBS Group from $55.00 to $80.00, reflecting a potential upside of 23.23%.
• The stock has received mixed ratings from analysts, with 14 buy ratings and one sell rating, leading to a consensus rating of "Moderate Buy."
• Wayfair's stock is currently trading at $64.92, showing a 2.9% increase during mid-day trading.
• Insider transactions indicate significant selling, with CEO Niraj Shah and another executive selling 60,000 shares each, representing a 26.19% decrease in their positions.

Wayfair (NYSE:W - Free Report) had its price objective boosted by UBS Group from $55.00 to $80.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts also recently commented on W. Stifel Nicolaus dropped their target price on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Bank of America increased their price objective on shares of Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Loop Capital reaffirmed a "sell" rating and issued a $35.00 price objective on shares of Wayfair in a research report on Wednesday, May 14th. Canaccord Genuity Group cut their price objective on shares of Wayfair from $68.00 to $58.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Wayfair in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.38.

Wayfair Price Performance

Shares of Wayfair stock traded up $2.28 during trading on Friday, hitting $65.35. 3,573,907 shares of the company were exchanged, compared to its average volume of 4,385,312. The firm has a market capitalization of $8.39 billion, a P/E ratio of -22.93 and a beta of 2.97. The firm's fifty day moving average price is $49.67 and its 200 day moving average price is $41.48. Wayfair has a 1-year low of $20.41 and a 1-year high of $65.42.

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

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 179,707 shares of Wayfair stock in a transaction dated 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 $12,453,573. This trade represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Conine sold 180,943 shares of Wayfair stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the transaction, the insider directly owned 236,167 shares of the company's stock, valued at approximately $12,420,022.53. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 800,731 shares of company stock valued at $40,152,384. Insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. lifted its stake in shares of Wayfair by 681.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after buying an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP lifted its stake in shares of Wayfair by 100.0% during the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock worth $124,096,000 after buying an additional 1,400,000 shares during the last quarter. Capital World Investors lifted its stake in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after buying an additional 782,757 shares during the last quarter. Norges Bank acquired a new position in shares of Wayfair in the fourth quarter valued at about $31,472,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Wayfair during the fourth quarter worth about $30,735,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.