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

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

W has been the subject of several other research reports. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Wayfair in a report on Thursday, May 1st. UBS Group reduced their price target on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Wayfair in a research report on Tuesday, July 1st. Guggenheim reduced their price target on shares of Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Mizuho reduced their price target on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.72.

Wayfair Stock Up 2.8%

NYSE W traded up $1.56 on Wednesday, hitting $58.13. 263,783 shares of the stock were exchanged, compared to its average volume of 4,850,909. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $58.42. The company has a market cap of $7.46 billion, a PE ratio of -20.27 and a beta of 2.97. The company has a 50-day moving average price of $43.46 and a 200-day moving average price of $40.30.

Wayfair (NYSE:W - Get Free Report) last posted 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 analyst estimates of $2.71 billion. During the same quarter last year, the firm earned ($0.32) EPS. The company's revenue was up .0% on a year-over-year basis. As a group, equities research analysts predict that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 179,707 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total value of $9,448,994.06. Following the sale, the chief executive officer directly owned 236,850 shares of the company's stock, valued at approximately $12,453,573. This represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 180,943 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the sale, the insider directly owned 236,167 shares in the company, valued at approximately $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. Insiders sold a total of 666,874 shares of company stock valued at $32,647,157 in the last quarter. Insiders own 21.91% of the company's stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently modified their holdings of W. Jones Financial Companies Lllp boosted its stake in shares of Wayfair by 577.0% during the 4th 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock worth $44,733,000 after purchasing an additional 35,057 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Wayfair by 2.4% during the 4th quarter. Arizona State Retirement System now owns 26,951 shares of the company's stock worth $1,194,000 after purchasing an additional 624 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Wayfair by 650.4% during the 4th quarter. AlphaQuest LLC now owns 9,853 shares of the company's stock worth $437,000 after purchasing an additional 8,540 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Wayfair during the 4th quarter worth about $364,000. 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.