Wayfair (NYSE:W) Price Target Increased to $260.00 by Analysts at Credit Suisse Group

Wayfair (NYSE:W) had its target price increased by Credit Suisse Group from $198.00 to $260.00 in a report issued on Wednesday morning, The Fly reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Wedbush raised shares of Wayfair from a neutral rating to an outperform rating and raised their price objective for the company from $165.00 to $240.00 in a research note on Tuesday, July 14th. SunTrust Banks raised their price target on shares of Wayfair from $163.00 to $208.00 and gave the company a hold rating in a research report on Friday, June 26th. UBS Group boosted their price objective on Wayfair from $65.00 to $170.00 and gave the stock a neutral rating in a report on Wednesday, May 6th. Citigroup downgraded Wayfair from a neutral rating to a sell rating and upped their price target for the stock from $75.00 to $130.00 in a report on Friday, May 15th. Finally, Loop Capital raised shares of Wayfair from a sell rating to a hold rating and lifted their price objective for the stock from $35.00 to $165.00 in a report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $161.00.

Wayfair stock opened at $266.09 on Wednesday. The company has a market capitalization of $25.18 billion, a PE ratio of -23.14 and a beta of 3.37. Wayfair has a 12-month low of $21.70 and a 12-month high of $267.43. The firm’s fifty day moving average is $213.24 and its 200 day moving average is $130.28.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($2.30) earnings per share for the quarter, beating the consensus estimate of ($2.60) by $0.30. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the firm posted ($1.62) earnings per share. On average, analysts anticipate that Wayfair will post -6.14 earnings per share for the current fiscal year.

In related news, insider Edmond Macri sold 300 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.20, for a total transaction of $46,860.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steve Oblak sold 12,628 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $174.32, for a total value of $2,201,312.96. Following the sale, the insider now directly owns 147,638 shares in the company, valued at approximately $25,736,256.16. The disclosure for this sale can be found here. Insiders have sold 91,122 shares of company stock valued at $17,869,881 in the last quarter. Company insiders own 30.86% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. World Asset Management Inc bought a new stake in shares of Wayfair during the 2nd quarter valued at about $234,000. APG Asset Management N.V. lifted its position in Wayfair by 4.7% during the first quarter. APG Asset Management N.V. now owns 41,500 shares of the company’s stock valued at $2,218,000 after purchasing an additional 1,867 shares during the last quarter. Swiss National Bank lifted its position in Wayfair by 24.8% during the first quarter. Swiss National Bank now owns 242,437 shares of the company’s stock valued at $12,956,000 after purchasing an additional 48,200 shares during the last quarter. IBM Retirement Fund purchased a new position in Wayfair in the 2nd quarter worth approximately $304,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Wayfair in the 2nd quarter worth $1,434,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Analyst Recommendations for Wayfair (NYSE:W)

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