Wayfair (NYSE:W) Stock Price Expected to Rise, Zelman & Associates Analyst Says

Wayfair (NYSE:W - Free Report) had its price target lifted by Zelman & Associates from $55.00 to $72.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on W. Deutsche Bank Aktiengesellschaft cut Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a research note on Monday, April 14th. Evercore ISI increased their price objective on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group reduced their price objective on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Wedbush upgraded Wayfair to a "hold" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.72.

Wayfair Trading Up 4.2%

Wayfair stock traded up $2.40 during mid-day trading on Wednesday, hitting $58.97. The company's stock had a trading volume of 5,607,107 shares, compared to its average volume of 4,874,984. The firm has a market capitalization of $7.57 billion, a PE ratio of -20.69 and a beta of 2.97. Wayfair has a 1 year low of $20.41 and a 1 year high of $59.50. The stock's fifty day moving average is $43.99 and its two-hundred day moving average is $40.41.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts expect that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 179,707 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 236,850 shares of the company's stock, valued at approximately $12,453,573. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 180,943 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total value of $9,515,792.37. Following the sale, the insider directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,874 shares of company stock worth $32,647,157. Corporate insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the business. True Wealth Design LLC lifted its holdings in shares of 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 buying an additional 381 shares during the period. Jones Financial Companies Lllp raised its holdings in 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 purchasing an additional 502 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Wayfair during the fourth quarter worth $41,000. GAMMA Investing LLC raised its holdings in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings 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 purchasing an additional 1,097 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.