Wayfair (NYSE:W) Sets New 52-Week High - Still a Buy?

Key Points

• Wayfair Inc. reached a new 52-week high of $91.11, signaling strong investor interest as the stock has shown significant gains over recent trading sessions.
• The company's latest earnings report exceeded expectations with an earnings per share (EPS) of $0.87, beating consensus estimates of $0.33.
• Analysts have reacted positively, with upgrades from several firms, resulting in a consensus rating of "Moderate Buy" and a price target of $69.19.

Wayfair Inc. (NYSE:W - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $91.10 and last traded at $91.11, with a volume of 522522 shares trading hands. The stock had previously closed at $87.34.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on W. Wall Street Zen upgraded shares of Wayfair from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Sanford C. Bernstein restated a "market perform" rating and set a $70.00 price objective (up from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Citigroup upgraded shares of Wayfair from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $32.00 to $93.00 in a research note on Tuesday, August 5th. Wedbush restated a "neutral" rating on shares of Wayfair in a research note on Tuesday, August 5th. Finally, Zelman & Associates upped their target price on Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of "Moderate Buy" and a consensus price target of $69.19.

Wayfair Trading Up 3.9%

The business has a 50-day moving average price of $69.88 and a 200 day moving average price of $48.26. The company has a market cap of $11.76 billion, a price-to-earnings ratio of -37.83 and a beta of 2.95.

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

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 85,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the sale, the insider directly owned 459,073 shares of the company's stock, valued at $36,757,975.11. The trade was a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the sale, the chief executive officer directly owned 459,137 shares in the company, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,240,204 shares of company stock valued at $81,706,986 in the last quarter. Insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Several large investors have recently added to or reduced their stakes in W. EverSource Wealth Advisors LLC increased its stake in shares of Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after acquiring an additional 653 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after acquiring an additional 609 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after acquiring an additional 1,097 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock worth $96,000 after acquiring an additional 617 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Wayfair in the second quarter worth $102,000. 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.

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