Wayfair (NYSE:W) Shares Gap Up – Time to Buy?

Wayfair Inc. (NYSE:W) shares gapped up prior to trading on Friday . The stock had previously closed at $100.41, but opened at $106.01. Wayfair shares last traded at $105.4780, with a volume of 450,128 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on W. Barclays increased their price target on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Citigroup increased their price target on shares of Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group raised their price target on shares of Wayfair from $102.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Guggenheim increased their price objective on Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Wayfair has an average rating of “Moderate Buy” and a consensus price target of $105.29.

Wayfair Stock Performance

The company has a market capitalization of $13.63 billion, a PE ratio of -40.44 and a beta of 3.31. The company’s 50-day simple moving average is $101.47 and its 200-day simple moving average is $82.20.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Wayfair’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 6,347 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the transaction, the chief technology officer directly owned 198,860 shares in the company, valued at approximately $19,993,384.40. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $102.33, for a total value of $3,069,900.00. Following the completion of the sale, the insider directly owned 439,073 shares in the company, valued at approximately $44,930,340.09. The trade was a 6.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,085,959 shares of company stock worth $103,711,474 in the last ninety days. Corporate insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. AQR Capital Management LLC increased its position in Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after purchasing an additional 276,471 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Wayfair during the 1st quarter worth about $452,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Wayfair by 29.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after buying an additional 15,084 shares in the last quarter. Scientech Research LLC raised its position in shares of Wayfair by 33.1% in the first quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock valued at $1,159,000 after buying an additional 9,003 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of Wayfair by 40.1% during the first quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock valued at $2,827,000 after buying an additional 25,260 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.