Wayfair (NYSE:W) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Wayfair from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday. Rosenblatt Securities began coverage on shares of Wayfair in a research report on Thursday, August 20th. They issued a “buy” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Wayfair from $125.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. BNP Paribas Exane boosted their price objective on shares of Wayfair from $108.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Citigroup upped their price objective on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $128.57.

Wayfair Stock Down 1.1%

W opened at $112.08 on Friday. Wayfair has a 12-month low of $55.60 and a 12-month high of $127.99. The firm has a market capitalization of $14.79 billion, a P/E ratio of -89.67, a price-to-earnings-growth ratio of 3.85 and a beta of 3.10. The stock’s 50 day moving average price is $105.88 and its two-hundred day moving average price is $89.19.

Wayfair (NYSE:W) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. Wayfair’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. As a group, analysts anticipate that Wayfair will post 0.97 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, Director Steven Conine sold 117,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the sale, the director owned 105,073 shares of the company’s stock, valued at $11,689,371.25. The trade was a 52.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Fiona Tan sold 7,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $122.73, for a total transaction of $859,110.00. Following the completion of the transaction, the chief technology officer owned 181,698 shares of the company’s stock, valued at approximately $22,299,795.54. This represents a 3.71% decrease in their position. 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 692,070 shares of company stock worth $74,096,044 over the last three months. 18.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in W. Heritage Family Offices LLP acquired a new stake in Wayfair during the third quarter valued at approximately $45,000. Fortitude Family Office LLC raised its holdings in shares of Wayfair by 144.7% in the 3rd quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock worth $47,000 after buying an additional 272 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $53,000. Reyes Financial Architecture Inc. acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $82,000. Finally, IFP Advisors Inc lifted its position in shares of Wayfair by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair’s third-quarter results beat estimates: earnings were $0.93 per share versus $0.80 expected, and revenue was $3.42 billion versus $3.38 billion expected. U.S. sales grew 11.4%, with improved advertising leverage and market-share gains contributing to the performance. Wayfair Q3 Earnings Beat on U.S. Growth and Ad Cost Leverage
• Positive Sentiment: Analysts raised targets following the results. Notable moves included UBS to $165 with a Buy rating, Needham to $145 with a Buy rating, and Wells Fargo to $140 with an Overweight rating; Deutsche Bank lifted its target to $140 but maintained Hold. Wayfair analyst coverage
• Neutral Sentiment: CTO Fiona Tan sold 15,000 shares across November 4–5 for about $1.86 million. The sales were made under a pre-arranged Rule 10b5-1 plan, and she retained 181,698 shares, making the transactions a less direct indicator of her near-term view of the stock. SEC Form 4 filing
• Negative Sentiment: Management expects higher holiday advertising spending in the fourth quarter. Although Wayfair forecast high-single-digit revenue growth and a 6%–7% adjusted EBITDA margin, increased marketing costs could weigh on near-term profitability. Wayfair forecasts Q4 growth and adjusted EBITDA margin

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares.

The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets.

Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.