Wayfair (NYSE:W) Price Target Raised to $117.00

Wayfair (NYSE:W) had its price target lifted by Robert W. Baird from $116.00 to $117.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on the stock. TD Cowen boosted their target price on shares of Wayfair from $75.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Benchmark began coverage on shares of Wayfair in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a research note on Monday, September 14th. Finally, Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.93.

Wayfair Stock Performance

Shares of NYSE:W opened at $105.65 on Thursday. The company has a market cap of $13.95 billion, a P/E ratio of -42.95, a PEG ratio of 3.80 and a beta of 3.02. Wayfair has a one year low of $55.60 and a one year high of $119.98. The business’s 50-day simple moving average is $102.26 and its 200 day simple moving average is $86.45.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the business earned $0.87 EPS. Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Wayfair will post 0.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Fiona Tan sold 7,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $102.18, for a total transaction of $715,260.00. Following the completion of the transaction, the chief technology officer directly owned 204,698 shares in the company, valued at approximately $20,916,041.64. This represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, Director Steven Conine sold 69,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the director directly owned 360,073 shares of the company’s stock, valued at $37,217,145.28. The trade was a 16.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 296,024 shares of company stock valued at $30,570,874. Company insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Wayfair during the second quarter worth $2,001,000. WINTON GROUP Ltd bought a new position in shares of Wayfair in the 2nd quarter worth about $3,207,000. Assenagon Asset Management S.A. boosted its holdings in shares of Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after buying an additional 242,791 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Wayfair in the 2nd quarter valued at about $16,362,000. Finally, Dockside LLC bought a new stake in shares of Wayfair during the 4th quarter valued at about $1,990,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair plans to open an approximately 86,000-square-foot large-format store in Cherry Hill, New Jersey, in 2028. The location would be the company’s second in New Jersey and its first in the Philadelphia area, potentially expanding brand awareness and giving customers a physical shopping option. Wayfair Picks Cherry Hill Horse Track Site for 86,000-Square-Foot Store
• Positive Sentiment: Robert W. Baird raised its price target on Wayfair from $116 to $117 while maintaining a neutral rating. The higher target indicates modestly improved valuation expectations, although the unchanged rating limits the bullish signal. Baird Wayfair Price Target Report
• Neutral Sentiment: Multiple articles highlight Wayfair’s five-day sale, discounts of up to 86% and a heavily marked-down “cloud couch.” These promotions may support near-term traffic and sales, but unusually deep discounts could also pressure merchandise margins. Wayfair Five Days of Deals
• Neutral Sentiment: A consumer review of Wayfair dining tables and additional product coverage provide marketing exposure, but do not present a material change to the company’s earnings outlook. Wayfair Dining Table Review

About Wayfair

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.