Wayfair (NYSE:W) Price Target Raised to $72.00 at Zelman & Associates

Wayfair (NYSE:W - Free Report) had its price objective lifted by Zelman & Associates from $55.00 to $72.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley reissued an "overweight" rating and issued a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research note on Wednesday, July 2nd. UBS Group reduced their price target on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America boosted their price objective on shares of Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. The Goldman Sachs Group lowered their price target on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets set a $38.00 price target on shares of Wayfair in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.72.

Wayfair Price Performance

Shares of NYSE:W traded down $1.73 during trading hours on Wednesday, hitting $57.10. 2,595,347 shares of the company's stock traded hands, compared to its average volume of 4,865,929. Wayfair has a 1 year low of $20.41 and a 1 year high of $59.51. The business has a fifty day moving average price of $43.99 and a 200-day moving average price of $40.41. The firm has a market capitalization of $7.33 billion, a P/E ratio of -20.02 and a beta of 2.97.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share 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. During the same period in the prior year, the firm posted ($0.32) EPS. The business's revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 7,094 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total value of $391,659.74. Following the completion of the sale, the insider owned 229,073 shares in the company, valued at approximately $12,647,120.33. This represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Niraj Shah sold 7,713 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total transaction of $425,834.73. Following the completion of the sale, the chief executive officer owned 229,137 shares of the company's stock, valued at approximately $12,650,653.77. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 666,874 shares of company stock worth $32,647,157. Insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Several hedge funds have recently made changes to their positions in the company. Pallas Capital Advisors LLC purchased a new stake in shares of Wayfair in the 2nd quarter valued at approximately $234,000. Chemistry Wealth Management LLC boosted its position in shares of Wayfair by 9.4% during the 2nd quarter. Chemistry Wealth Management LLC now owns 43,503 shares of the company's stock worth $2,225,000 after purchasing an additional 3,722 shares during the period. Parallel Advisors LLC boosted its position in shares of Wayfair by 229.0% during the 2nd 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 period. Stonehearth Capital Management LLC purchased a new position in shares of Wayfair during the 2nd quarter worth approximately $265,000. Finally, Rhumbline Advisers boosted its position in shares of Wayfair by 4.3% during the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock worth $2,923,000 after purchasing an additional 3,725 shares during the period. 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.