Wayfair (NYSE:W) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for Wayfair from $75.00 to $82.00, indicating a potential upside of 11.49% from the stock's previous close.
• According to multiple reports, a consensus of analysts gives Wayfair a "Moderate Buy" rating, with a consensus price target of $54.73.
• Wayfair's recent quarterly earnings surpassed expectations, reporting $0.87 earnings per share compared to the anticipated $0.33, alongside a revenue increase of 5.0% year-over-year.

Wayfair (NYSE:W - Get Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $75.00 to $82.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.94% from the company's current price.

A number of other research firms have also weighed in on W. 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. Jefferies Financial Group reaffirmed a "buy" rating on shares of Wayfair in a research report on Tuesday, July 1st. UBS Group lifted their price objective on Wayfair from $55.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their price objective on Wayfair from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Canaccord Genuity Group upped their target price on Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.96.

Wayfair Stock Performance

NYSE:W traded down $3.43 during mid-day trading on Tuesday, hitting $73.25. 5,387,069 shares of the company's stock traded hands, compared to its average volume of 5,109,159. The company has a fifty day moving average of $55.27 and a 200 day moving average of $43.10. Wayfair has a twelve month low of $20.41 and a twelve month high of $78.06. The company has a market capitalization of $9.40 billion, a P/E ratio of -30.52 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. Wayfair's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, research analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Conine sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $56.02, for a total value of $3,361,200.00. Following the transaction, the insider owned 169,073 shares in the company, valued at $9,471,469.46. This trade represents a 26.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 13,857 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total value of $782,227.65. Following the sale, the insider owned 91,263 shares of the company's stock, valued at $5,151,796.35. The trade was a 13.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 800,204 shares of company stock worth $40,135,236. Corporate insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Wayfair in the fourth quarter valued at about $41,000. GAMMA Investing LLC lifted its position in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after buying an additional 609 shares during the last quarter. Parallel Advisors LLC boosted its stake in Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after buying an additional 1,097 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after acquiring an additional 617 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

About Wayfair

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.