Wayfair (NYSE:W) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Wayfair (NYSE:W) in a research report released on Friday morning, Benzinga reports. Wedbush currently has a $70.00 price target on the stock.

A number of other equities analysts have also commented on W. Canaccord Genuity Group reaffirmed a buy rating and set a $80.00 price target on shares of Wayfair in a research report on Friday, February 23rd. Loop Capital boosted their price target on Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Royal Bank of Canada cut their target price on Wayfair from $62.00 to $61.00 and set a sector perform rating for the company in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus raised their price target on Wayfair from $52.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wayfair currently has an average rating of Moderate Buy and an average price target of $77.29.

Wayfair Stock Performance

Shares of W opened at $68.49 on Friday. The firm has a market cap of $8.24 billion, a P/E ratio of -12.78 and a beta of 3.32. Wayfair has a 52 week low of $33.85 and a 52 week high of $90.71. The firm’s 50-day simple moving average is $60.24 and its 200 day simple moving average is $55.46.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, equities analysts forecast that Wayfair will post -3.37 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Wayfair news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 267,437 shares in the company, valued at $13,912,072.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,664 shares of company stock worth $5,289,900. Company insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Large 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 about $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in Wayfair in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair during the 4th quarter worth $31,000. BluePath Capital Management LLC bought a new position in Wayfair during the third quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Wayfair in the third quarter valued at approximately $34,000. 89.67% of the stock is 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.