Wayfair (NYSE:W) Price Target Increased to $65.00 by Analysts at Royal Bank of Canada

Wayfair (NYSE:W) had its price target hoisted by investment analysts at Royal Bank of Canada from $61.00 to $65.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 3.80% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Citigroup boosted their price objective on Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 28th. TD Cowen raised their target price on shares of Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday. Loop Capital raised their price target on shares of Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Mizuho initiated coverage on shares of Wayfair in a research report on Tuesday, March 19th. They set a “buy” rating and a $72.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Wayfair in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $77.29.

Wayfair Price Performance

W traded up $3.98 on Monday, reaching $67.57. 4,323,212 shares of the stock were exchanged, compared to its average volume of 4,491,621. The company’s 50-day moving average price is $59.92 and its 200 day moving average price is $55.29. The firm has a market capitalization of $8.13 billion, a PE ratio of -12.61 and a beta of 3.32. Wayfair has a fifty-two week low of $33.85 and a fifty-two week high of $90.71.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion for 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 fiscal year.

Insider Buying and Selling at Wayfair

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

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Wayfair during the first quarter valued at $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wayfair in the 4th quarter worth $29,000. GAMMA Investing LLC bought a new position in Wayfair in the fourth quarter valued at about $31,000. BluePath Capital Management LLC purchased a new position in Wayfair in the third quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Wayfair during the 3rd quarter valued at about $34,000. 89.67% of the stock is currently 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.