Several other equities research analysts also recently weighed in on W. Wedbush reaffirmed an outperform rating and set a $40.00 price target on shares of Wayfair in a report on Tuesday, January 10th. Credit Suisse Group AG began coverage on Wayfair in a report on Wednesday, January 11th. They issued a neutral rating and a $40.00 target price for the company. Zacks Investment Research raised Wayfair from a sell rating to a hold rating in a report on Wednesday, January 11th. Canaccord Genuity reissued a buy rating on shares of Wayfair in a report on Tuesday, February 7th. Finally, Cowen and Company reissued an outperform rating and issued a $44.00 target price (up previously from $39.00) on shares of Wayfair in a report on Wednesday, February 22nd. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wayfair has a consensus rating of Buy and a consensus price target of $53.95.
Shares of Wayfair (NYSE:W) traded down 2.66% on Wednesday, hitting $61.92. 1,494,868 shares of the stock were exchanged. Wayfair has a 52-week low of $27.60 and a 52-week high of $65.80. The company’s 50 day moving average is $49.28 and its 200-day moving average is $40.84. The stock’s market cap is $5.36 billion.
Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.48) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.32. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. The firm had revenue of $960.80 million during the quarter, compared to the consensus estimate of $934.84 million. During the same period last year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. Analysts predict that Wayfair will post ($1.60) EPS for the current fiscal year.
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In other Wayfair news, insider Steven Conine sold 12,000 shares of Wayfair stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $40.04, for a total value of $480,480.00. Following the completion of the sale, the insider now owns 84,950 shares in the company, valued at approximately $3,401,398. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Malone sold 1,000 shares of Wayfair stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $35.67, for a total value of $35,670.00. Following the completion of the transaction, the insider now directly owns 3,881 shares in the company, valued at $138,435.27. The disclosure for this sale can be found here. Insiders sold a total of 1,107,809 shares of company stock valued at $44,276,715 in the last 90 days. 63.94% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Wayfair by 1.8% in the first quarter. FMR LLC now owns 7,550,245 shares of the company’s stock valued at $305,709,000 after buying an additional 133,204 shares in the last quarter. Harbourvest Partners LLC raised its position in Wayfair by 0.4% in the fourth quarter. Harbourvest Partners LLC now owns 3,860,511 shares of the company’s stock valued at $135,311,000 after buying an additional 16,842 shares in the last quarter. Vanguard Group Inc. raised its position in Wayfair by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,605,201 shares of the company’s stock valued at $105,484,000 after buying an additional 113,613 shares in the last quarter. Spruce House Investment Management LLC purchased a new position in Wayfair during the first quarter valued at $101,225,000. Finally, Baillie Gifford & Co. raised its position in Wayfair by 18.6% in the first quarter. Baillie Gifford & Co. now owns 1,812,214 shares of the company’s stock valued at $73,377,000 after buying an additional 284,599 shares in the last quarter. 70.53% of the stock is currently owned by institutional investors and hedge funds.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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