Wayfair (NYSE:W) Raised to Buy at Argus

Wayfair (NYSE:W - Get Free Report) was upgraded by research analysts at Argus from a "hold" rating to a "buy" rating in a report released on Monday,Benzinga reports. The firm currently has a $40.00 price objective on the stock. Argus' target price suggests a potential upside of 22.25% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Truist Financial set a $40.00 price objective on Wayfair in a report on Friday, May 2nd. Raymond James set a $60.00 price objective on Wayfair and gave the stock a "strong-buy" rating in a report on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Wayfair in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a report on Monday, April 14th. Thirteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.46.

Wayfair Trading Down 2.7%

NYSE:W opened at $32.72 on Monday. The firm has a market capitalization of $4.15 billion, a PE ratio of -8.14 and a beta of 2.93. The stock has a 50 day moving average of $30.64 and a 200-day moving average of $40.10. Wayfair has a 52 week low of $20.41 and a 52 week high of $76.18.

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

Insider Activity

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares of the company's stock, valued at $25,901,852.09. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction 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 directly owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,915 shares of company stock worth $3,389,028 over the last quarter. Corporate insiders own 21.91% of the company's stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC raised its position in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares during the period. J.Safra Asset Management Corp boosted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. GAMMA Investing LLC raised its stake in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after buying an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Wayfair in the fourth quarter valued at approximately $41,000. 89.67% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.