Wayfair Inc. (NYSE:W) Receives $118.04 Consensus Price Target from Analysts

Wayfair Inc. (NYSE:W) has earned an average rating of “Moderate Buy” from the thirty-one analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $119.7037.

A number of research firms have recently issued reports on W. JPMorgan Chase & Co. increased their price objective on shares of Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Mizuho dropped their price target on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Needham & Company LLC increased their price target on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $120.00 price objective on shares of Wayfair in a research note on Wednesday, August 5th.

Wayfair Stock Up 0.5%

Wayfair stock opened at $101.59 on Tuesday. Wayfair has a 12-month low of $55.60 and a 12-month high of $119.98. The firm’s fifty day moving average is $90.52 and its 200 day moving average is $81.71. The company has a market capitalization of $13.41 billion, a PE ratio of -41.30, a PEG ratio of 4.50 and a beta of 2.99.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the company posted $0.87 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that Wayfair will post 0.75 EPS for the current fiscal year.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Physical retail expansion: Wayfair plans to open Pennsylvania’s first physical retail location in Pittsburgh. The store could help customers see products in person, support brand awareness and complement the company’s online marketplace. Wayfair to open Pennsylvania’s first physical retail location in Pittsburgh
• Positive Sentiment: Stores viewed as potential growth engine: Commentary suggests Wayfair’s physical-retail strategy is emerging as a possible long-term growth driver, potentially broadening customer reach and improving product discovery beyond its digital platform. Wayfair’s physical retail emerging as growth engine
• Neutral Sentiment: Promotional activity remains prominent: Wayfair was featured in end-of-summer clearance coverage, including discounts on fire pits, fire tables and home products. Promotions may stimulate near-term orders and clear inventory, but could also pressure margins. Final summer clearance savings from Saatva, Wayfair, REI and more
• Negative Sentiment: CEO and director sales: CEO Niraj Shah and director Steven Conine each sold 69,000 shares at an average of $103.36, reducing their individual holdings by about 16%. The transactions were made under pre-arranged Rule 10b5-1 trading plans, which lessens—but does not eliminate—the negative signaling risk. CEO insider sale filing

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 69,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the chief executive officer directly owned 360,137 shares in the company, valued at $37,223,760.32. This trade represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the sale, the director directly owned 360,073 shares of the company’s stock, valued at approximately $37,217,145.28. The trade was a 16.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 143,925 shares of company stock valued at $14,834,198 over the last ninety days. 18.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its position in Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after acquiring an additional 82,584 shares in the last quarter. Vanguard Group Inc. increased its holdings in Wayfair by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Wayfair by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock worth $542,950,000 after purchasing an additional 180,558 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.