Wayfair (NYSE:W) Price Target Raised to $61.00

Wayfair (NYSE:W) had its price objective upped by equities research analysts at BMO Capital Markets from $57.00 to $61.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential downside of 4.09% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Wayfair from $62.00 to $61.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Wedbush reissued an “outperform” rating and issued a $70.00 target price on shares of Wayfair in a research note on Friday. TD Cowen upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Friday, February 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $75.00 target price on shares of Wayfair in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.45.

Wayfair Stock Up 8.5 %

Shares of NYSE:W traded up $4.96 during trading on Friday, reaching $63.60. 8,823,444 shares of the company traded hands, compared to its average volume of 4,496,439. The firm has a fifty day simple moving average of $59.92 and a 200 day simple moving average of $55.16. The firm has a market cap of $7.65 billion, a P/E ratio of -9.75 and a beta of 3.32. Wayfair has a 1-year low of $33.85 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. As a group, research analysts anticipate that Wayfair will post -3.37 EPS for the current year.

Insider Transactions at Wayfair

In other news, COO Thomas Netzer sold 984 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $60.58, for a total transaction of $59,610.72. Following the completion of the sale, the chief operating officer now owns 117,841 shares of the company’s stock, valued at $7,138,807.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Fiona Tan sold 5,315 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares in the company, valued at $3,222,050.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 984 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the transaction, the chief operating officer now owns 117,841 shares of the company’s stock, valued at approximately $7,138,807.78. The disclosure for this sale can be found here. Insiders sold 90,156 shares of company stock valued at $5,465,688 over the last quarter. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently added to or reduced their stakes in W. Riverview Trust Co acquired a new stake in shares of Wayfair during the 1st quarter worth about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wayfair during the 4th quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in shares of Wayfair during the 4th quarter worth about $31,000. BluePath Capital Management LLC acquired a new stake in shares of Wayfair during the 3rd quarter worth about $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Wayfair during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.