Wayfair (NYSE:W) Hits New 52-Week High - Should You Buy?

Key Points

• Wayfair's stock reached a new 52-week high of $73.59 before closing at $70.06, marking a significant increase in value.
• Analysts have raised their price targets for Wayfair, with UBS setting a target of $80.00 and JPMorgan at $75.00, indicating strong bullish sentiment.
• Insider trading activity included significant stock sales by executives Steven Conine and CEO Niraj Shah, each reducing their ownership by over 43%.

Shares of Wayfair Inc. (NYSE:W - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $73.59 and last traded at $70.06, with a volume of 749030 shares traded. The stock had previously closed at $65.22.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Wayfair from $55.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Wayfair from $48.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus upped their price target on shares of Wayfair from $32.00 to $56.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Evercore ISI upped their price target on shares of Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $25.00 price target on shares of Wayfair in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.85.

Wayfair Trading Up 8.5%

The stock's fifty day moving average price is $52.58 and its two-hundred day moving average price is $42.25. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of -24.72 and a beta of 2.92.

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

Insiders Place Their Bets

In other news, insider Steven Conine sold 180,943 shares of Wayfair stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total value of $9,515,792.37. Following the sale, the insider owned 236,167 shares of the company's stock, valued at $12,420,022.53. The trade was a 43.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 179,707 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $52.58, for a total transaction of $9,448,994.06. Following the sale, the chief executive officer directly owned 236,850 shares in the company, valued at approximately $12,453,573. This represents a 43.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 800,204 shares of company stock worth $40,135,236. 21.91% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

Institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its holdings in shares of Wayfair by 207.1% in the fourth 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. Aster Capital Management DIFC Ltd acquired a new position in shares of Wayfair in the fourth quarter valued at approximately $41,000. GAMMA Investing LLC raised its position in shares of 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 raised its position in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after buying an additional 1,097 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after buying an additional 617 shares during the last quarter. Hedge funds and other institutional investors 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.

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