Wayfair (NYSE:W) Price Target Raised to $61.00 at BMO Capital Markets

Wayfair (NYSE:W) had its target price increased by BMO Capital Markets from $57.00 to $61.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts have also issued reports on the stock. Loop Capital upped their price target on shares of Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, April 2nd. Mizuho assumed coverage on Wayfair in a report on Tuesday, March 19th. They set a buy rating and a $72.00 price target for the company. TD Cowen upped their price objective on Wayfair from $50.00 to $55.00 and gave the company a hold rating in a research note on Wednesday, April 24th. Evercore ISI raised Wayfair from an in-line rating to an outperform rating and raised their price objective for the company from $65.00 to $80.00 in a research report on Thursday, April 4th. Finally, StockNews.com raised Wayfair from a sell rating to a hold rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wayfair has an average rating of Moderate Buy and an average price target of $76.45.

Wayfair Stock Up 8.4 %

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

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 analyst estimates of $3.10 billion. On average, sell-side analysts anticipate that Wayfair will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the sale, the chief executive officer now owns 267,437 shares in the company, valued at approximately $13,912,072.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the transaction, the insider now directly owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Insiders sold a total of 90,156 shares of company stock valued at $5,465,688 in the last three months. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of W. Commonwealth Equity Services LLC raised its position in Wayfair by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company’s stock valued at $622,000 after purchasing an additional 537 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Wayfair by 9.3% in the 3rd quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock worth $347,000 after purchasing an additional 486 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Wayfair by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company’s stock valued at $16,567,000 after purchasing an additional 7,719 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Wayfair during the 3rd quarter valued at about $34,000. Finally, ING Groep NV bought a new stake in Wayfair in the 3rd quarter worth approximately $4,016,000. 89.67% of the stock is currently owned by institutional investors.

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.