Wayfair (NYSE:W) Rating Reiterated by Guggenheim

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by Guggenheim in a report issued on Thursday, Benzinga reports. They currently have a $70.00 target price on the stock. Guggenheim’s price objective points to a potential upside of 23.37% from the stock’s previous close.

W has been the subject of a number of other reports. Truist Financial lowered their price objective on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital upped their price target on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.83.

Wayfair Price Performance

Shares of Wayfair stock opened at $56.74 on Thursday. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The firm has a market cap of $6.83 billion, a PE ratio of -10.59 and a beta of 3.40. The company has a 50 day simple moving average of $46.40 and a two-hundred day simple moving average of $54.67.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the firm posted ($1.27) EPS. Wayfair’s revenue was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair will post -2.66 earnings per share for the current year.

Insider Activity

In other Wayfair news, insider Jon Blotner sold 4,801 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the transaction, the insider now owns 53,152 shares of the company’s stock, valued at $2,708,094.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Blotner sold 4,801 shares of Wayfair stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the transaction, the insider now directly owns 53,152 shares of the company’s stock, valued at $2,708,094.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,113 shares of company stock worth $2,126,623. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. Capital World Investors lifted its stake in Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after acquiring an additional 962,307 shares during the period. Norges Bank purchased a new stake in Wayfair in the fourth quarter worth approximately $47,374,000. Renaissance Technologies LLC raised its stake in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP raised its stake in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after buying an additional 432,404 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Wayfair during the 4th quarter valued at $23,552,000. Institutional investors own 89.67% of the company’s stock.

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.