TD Cowen Raises Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its target price lifted by TD Cowen from $50.00 to $55.00 in a research report sent to investors on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on the stock. Piper Sandler reiterated an overweight rating and set a $88.00 target price (down previously from $93.00) on shares of Wayfair in a research report on Friday, February 23rd. Needham & Company LLC reiterated a buy rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday, February 22nd. Evercore ISI raised Wayfair from an in-line rating to an outperform rating and lifted their target price for the company from $65.00 to $80.00 in a report on Thursday, April 4th. Barclays reduced their target price on Wayfair from $85.00 to $60.00 and set an equal weight rating for the company in a report on Thursday, January 4th. Finally, BMO Capital Markets assumed coverage on Wayfair in a report on Tuesday, January 9th. They set a market perform rating and a $57.00 target price for the company. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair has a consensus rating of Moderate Buy and a consensus target price of $76.21.

Wayfair Stock Performance

W opened at $52.01 on Wednesday. The firm has a market cap of $6.26 billion, a P/E ratio of -7.98 and a beta of 3.29. The firm has a 50-day moving average of $59.59 and a 200 day moving average of $55.03. Wayfair has a fifty-two week low of $29.51 and a fifty-two week high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Equities research analysts predict that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wayfair news, COO Thomas Netzer sold 984 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the completion of the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Niraj Shah sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the sale, the chief executive officer now owns 267,437 shares of the company’s stock, valued at approximately $13,912,072.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,808 shares of company stock worth $5,445,222. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of Wayfair during the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wayfair during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair during the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC bought a new position in shares of Wayfair during the third quarter valued at approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Wayfair during the third quarter valued at approximately $34,000. 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.