Wayfair’s (W) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Wayfair (NYSE:W) in a research note released on Monday, Benzinga reports. Morgan Stanley currently has a $80.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets initiated coverage on shares of Wayfair in a research report on Tuesday, January 9th. They set a market perform rating and a $57.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Wayfair from $55.00 to $62.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Wayfair from a sell rating to a hold rating in a research note on Monday, March 18th. Truist Financial decreased their price target on shares of Wayfair from $65.00 to $63.00 and set a buy rating for the company in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a buy rating and set a $75.00 price target on shares of Wayfair in a research note on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $74.59.

Wayfair Trading Up 4.3 %

NYSE:W opened at $67.57 on Monday. The stock has a market cap of $8.13 billion, a P/E ratio of -10.36 and a beta of 3.27. The stock has a 50 day simple moving average of $56.59 and a 200 day simple moving average of $55.38. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71.

Wayfair (NYSE:W) last issued its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts forecast that Wayfair will post -3.39 EPS for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.34, for a total value of $175,787.28. Following the completion of the sale, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,300 shares of company stock worth $4,591,396. 26.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Wayfair in the fourth quarter worth about $28,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wayfair in the fourth quarter worth about $29,000. GAMMA Investing LLC purchased a new position in shares of Wayfair in the fourth quarter worth about $31,000. BluePath Capital Management LLC purchased a new position in shares of Wayfair in the third quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Wayfair in the third quarter worth about $34,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.