Wayfair (NYSE:W) Given New $70.00 Price Target at Truist Financial

Wayfair (NYSE:W) had its target price boosted by Truist Financial from $63.00 to $70.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on W. Citigroup raised their target price on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a report on Thursday, March 28th. Mizuho began coverage on shares of Wayfair in a report on Tuesday, March 19th. They set a buy rating and a $72.00 target price on the stock. BMO Capital Markets began coverage on shares of Wayfair in a report on Tuesday, January 9th. They set a market perform rating and a $57.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Wayfair from $63.00 to $79.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Wayfair from a sell rating to a hold rating in a research report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $76.45.

Wayfair Trading Up 8.4 %

Shares of W stock traded up $4.95 on Friday, hitting $63.59. The company’s stock had a trading volume of 8,825,370 shares, compared to its average volume of 4,777,874. Wayfair has a fifty-two week low of $33.85 and a fifty-two week high of $90.71. The stock’s 50 day moving average is $59.92 and its 200-day moving average is $55.16.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. As a group, sell-side analysts anticipate that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,144 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the transaction, the insider now directly owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Wayfair news, insider Steven Conine sold 8,300 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.31, for a total value of $434,173.00. Following the completion of the sale, the insider now owns 259,073 shares of the company’s stock, valued at $13,552,108.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Blotner sold 4,144 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.52, for a total transaction of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at approximately $2,297,157.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,156 shares of company stock valued at $5,465,688. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in shares of Wayfair during the first quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair during the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in Wayfair in the 4th quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new position in Wayfair in the 3rd quarter worth approximately $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Wayfair in the third quarter valued at approximately $34,000. 89.67% of the stock is owned by institutional investors.

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.