Wayfair (NYSE:W) PT Set at $68.00 by Stifel Nicolaus

Key Points

• Wayfair's price target was increased from $56.00 to $68.00 by Stifel Nicolaus, indicating a hold rating; however, this suggests a potential downside of 7.55% from its current price.
• The company's stock price increased by 12.8% on Tuesday, with a reported 12-month low of $20.41 and high of $73.79.
• Wayfair's latest earnings report showed a profit of $0.87 per share, exceeding estimates and representing a 5.0% year-over-year revenue growth.

Wayfair (NYSE:W - Get Free Report) has been given a $68.00 target price by investment analysts at Stifel Nicolaus in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target suggests a potential downside of 11.40% from the stock's current price.

A number of other research firms have also recently issued reports on W. Mizuho decreased their price target on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. TD Cowen upgraded Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Truist Financial set a $40.00 price target on Wayfair in a research report on Friday, May 2nd. BMO Capital Markets set a $38.00 price objective on Wayfair in a research report on Friday, May 2nd. Finally, Argus raised shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of "Moderate Buy" and an average price target of $65.96.

Wayfair Trading Up 4.2%

Shares of W stock opened at $76.75 on Tuesday. The stock's fifty day simple moving average is $54.66 and its 200-day simple moving average is $42.91. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of -31.98 and a beta of 2.92. Wayfair has a 1-year low of $20.41 and a 1-year high of $77.30.

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

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 60,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.03, for a total value of $3,361,800.00. Following the transaction, the chief executive officer directly owned 169,137 shares in the company, valued at approximately $9,476,746.11. This represents a 26.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 13,857 shares of Wayfair stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total transaction of $782,227.65. Following the completion of the sale, the insider owned 91,263 shares of the company's stock, valued at $5,151,796.35. This trade represents a 13.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 800,204 shares of company stock worth $40,135,236 over the last quarter. Company insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after purchasing an additional 2,116 shares during the last quarter. LPL Financial LLC increased its position in Wayfair by 218.2% in the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after acquiring an additional 26,390 shares during the period. GAMMA Investing LLC raised its stake in shares of Wayfair by 5,850.4% during the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after acquiring an additional 41,538 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Wayfair by 74.4% during the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after purchasing an additional 9,372 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Wayfair by 11.4% in the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after purchasing an additional 47,326 shares during the last quarter. 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.