Wayfair Inc. (NYSE:W) Stock Has Consensus Price Target of $121.14

Wayfair Inc. (NYSE:W) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $121.04.

W has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Wayfair from $92.00 to $96.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Wayfair in a research report on Tuesday, August 4th. UBS Group increased their target price on Wayfair from $118.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets lifted their target price on Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company upped their price target on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th.

Wayfair Stock Performance

Shares of W stock opened at $115.93 on Friday. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of -47.13, a price-to-earnings-growth ratio of 4.17 and a beta of 3.02. Wayfair has a one year low of $55.60 and a one year high of $120.90. The company’s 50-day moving average is $104.78 and its 200 day moving average is $89.19.

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

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $115.00, for a total value of $920,000.00. Following the completion of the transaction, the chief technology officer owned 196,698 shares of the company’s stock, valued at approximately $22,620,270. The trade was a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the chief executive officer directly owned 105,137 shares of the company’s stock, valued at approximately $11,696,491.25. This trade represents a 52.67% 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. Insiders have sold a total of 676,570 shares of company stock valued at $72,176,934 over the last quarter. Corporate insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after buying an additional 296,233 shares in the last quarter. Atreides Management LP lifted its position in shares of Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after buying an additional 560,133 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after acquiring an additional 328,358 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after acquiring an additional 242,791 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Wayfair by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after acquiring an additional 5,586 shares during the period. 89.67% of the stock is currently owned by institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.