Wayfair Inc. (W) Shares Up 6.9%
Wayfair Inc. (NYSE:W) shares shot up 6.9% on Tuesday . The stock traded as high as $82.75 and last traded at $82.38. 3,727,660 shares were traded during trading, an increase of 197% from the average session volume of 1,255,180 shares. The stock had previously closed at $77.08.
Several research firms have weighed in on W. DA Davidson began coverage on Wayfair in a research report on Wednesday. They set a “neutral” rating on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $88.00 price objective on shares of Wayfair in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and set a $89.00 price objective on shares of Wayfair in a research report on Friday, September 8th. Gordon Haskett raised Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, September 5th. Finally, Ifs Securities started coverage on Wayfair in a report on Friday, September 1st. They set an “outperform” rating and a $85.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $70.86.
The firm’s 50 day moving average is $72.96 and its 200-day moving average is $60.67. The firm’s market cap is $7.06 billion.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned ($0.43) EPS. The company’s quarterly revenue was up 42.7% compared to the same quarter last year. On average, equities research analysts predict that Wayfair Inc. will post ($1.45) EPS for the current fiscal year.
In other news, CEO Niraj Shah sold 50,850 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $73.88, for a total value of $3,756,798.00. Following the completion of the transaction, the chief executive officer now owns 81,819 shares of the company’s stock, valued at approximately $6,044,787.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael D. Fleisher sold 4,584 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $75.29, for a total value of $345,129.36. Following the completion of the transaction, the chief financial officer now directly owns 35,887 shares of the company’s stock, valued at approximately $2,701,932.23. The disclosure for this sale can be found here. Insiders have sold a total of 913,526 shares of company stock valued at $67,307,717 over the last 90 days. 56.93% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its stake in Wayfair by 2.1% during the 1st quarter. Nationwide Fund Advisors now owns 33,721 shares of the company’s stock valued at $1,365,000 after purchasing an additional 709 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Wayfair by 3.8% in the 1st quarter. Wells Fargo & Company MN now owns 41,065 shares of the company’s stock worth $1,663,000 after buying an additional 1,518 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wayfair by 9.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock worth $114,000 after buying an additional 247 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Wayfair by 5.6% in the 1st quarter. First Trust Advisors LP now owns 76,895 shares of the company’s stock worth $3,113,000 after buying an additional 4,058 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Wayfair by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 129,187 shares of the company’s stock worth $5,231,000 after buying an additional 3,160 shares during the last quarter.
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Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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