Wayfair (NYSE:W) Price Target Raised to $55.00 at Sanford C. Bernstein

Wayfair (NYSE:W) had its target price raised by Sanford C. Bernstein from $50.00 to $55.00 in a report issued on Friday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

Several other analysts have also issued reports on W. Canaccord Genuity Group restated a buy rating and set a $80.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Needham & Company LLC restated a buy rating and issued a $75.00 price objective on shares of Wayfair in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Wayfair from $63.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Wedbush reaffirmed an outperform rating and issued a $70.00 price objective on shares of Wayfair in a research note on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $76.45.

Wayfair Trading Up 8.4 %

W stock traded up $4.95 on Friday, hitting $63.59. The company had a trading volume of 8,825,370 shares, compared to its average volume of 4,777,874. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71. The stock’s 50-day simple moving average is $59.92 and its 200 day simple moving average is $55.16.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Research analysts expect that Wayfair will post -3.37 earnings per share for the current year.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 3,492 shares of the 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 sale, the insider now directly owns 32,118 shares in the company, valued at $1,616,820.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Niraj Shah sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the transaction, the chief executive officer now directly owns 267,437 shares of the company’s stock, valued at $13,912,072.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction 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 owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,156 shares of company stock worth $5,465,688. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in W. Commonwealth Equity Services LLC boosted its position in Wayfair by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company’s stock valued at $622,000 after purchasing an additional 537 shares in the last quarter. Raymond James & Associates grew its position in shares of Wayfair by 9.3% in the 3rd quarter. Raymond James & Associates now owns 5,730 shares of the company’s stock worth $347,000 after buying an additional 486 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Wayfair by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company’s stock valued at $16,567,000 after acquiring an additional 7,719 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Wayfair in the third quarter valued at approximately $34,000. Finally, ING Groep NV purchased a new position in Wayfair in the third quarter worth $4,016,000. 89.67% of the stock is currently owned by 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.