Wayfair (NYSE:W) Earns Neutral Rating from Wedbush

Wayfair (NYSE:W)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a report issued on Thursday,Benzinga reports. They currently have a $104.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 13.42% from the stock’s previous close.

Several other equities analysts have also commented on W. Royal Bank Of Canada dropped their target price on Wayfair from $92.00 to $76.00 and set a “sector perform” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group set a $79.00 price objective on Wayfair in a report on Friday, May 1st. Jefferies Financial Group lowered their price target on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Canaccord Genuity Group dropped their price target on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Needham & Company LLC cut their price objective on shares of Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.36.

Wayfair Stock Up 3.3%

Shares of NYSE:W opened at $91.69 on Thursday. Wayfair has a fifty-two week low of $53.85 and a fifty-two week high of $119.98. The firm’s 50 day moving average price is $77.85 and its 200 day moving average price is $83.73. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -39.19, a price-to-earnings-growth ratio of 4.67 and a beta of 2.96.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Wayfair will post 0.63 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Niraj Shah sold 113,863 shares of Wayfair stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the completion of the transaction, the chief executive officer directly owned 435,274 shares in the company, valued at $33,729,382.26. The trade was a 20.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 245,925 shares of company stock valued at $19,183,749 over the last quarter. Company insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Optas LLC increased its stake in Wayfair by 2.1% during the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after buying an additional 106 shares during the period. Larson Financial Group LLC boosted its holdings in Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after purchasing an additional 120 shares during the last quarter. Wedmont Private Capital increased its holdings in Wayfair by 3.3% during the 4th quarter. Wedmont Private Capital now owns 3,774 shares of the company’s stock worth $415,000 after purchasing an additional 121 shares during the last quarter. True Wealth Design LLC increased its holdings in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company’s stock worth $45,000 after purchasing an additional 123 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Wayfair by 2.3% in the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after buying an additional 124 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.