Wayfair Inc. (NYSE:W) Stock Has Average Price Target of $120.61 According to Brokerages

Shares of Wayfair Inc. (NYSE:W) have earned an average recommendation of “Moderate Buy” from the thirty-two brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $120.89.

W has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $133.00 price objective on shares of Wayfair in a research note on Wednesday, September 30th. Evercore reiterated an “outperform” rating and issued a $130.00 target price on shares of Wayfair in a research note on Wednesday, August 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of Wayfair in a report on Tuesday, September 1st. Wedbush upped their price target on Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird set a $116.00 price target on Wayfair in a research note on Wednesday, August 5th.

Wayfair Price Performance

Shares of NYSE:W opened at $105.58 on Wednesday. The stock has a market cap of $13.94 billion, a P/E ratio of -42.92, a P/E/G ratio of 3.81 and a beta of 3.02. The firm has a fifty day moving average price of $101.24 and a 200 day moving average price of $85.88. Wayfair has a 1-year low of $55.60 and a 1-year high of $119.98.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating 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 company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business posted $0.87 earnings per share. Wayfair’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that Wayfair will post 0.93 EPS for the current fiscal year.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Expanded Klarna partnership: Eligible U.S. customers can now access 0% APR financing for up to six months across Wayfair, Joss & Main, AllModern and Birch Lane. Canadian customers are also gaining access to Klarna’s broader payment options. Flexible financing could improve conversion rates, order values and affordability for large home purchases. Wayfair and Klarna partnership
• Positive Sentiment: High-profile sales event: Wayfair is offering discounts of up to 60% through October 9 during its “Five Days of Deals” promotion. Coverage of discounted furniture, kitchen products, outdoor merchandise and organizers may increase traffic and shopper engagement during a major retail period. Wayfair Five Days of Deals
• Neutral Sentiment: Insider selling appears planned: Insider Jon Blotner sold 6,056 shares for approximately $631,000, and CTO Fiona Tan sold 7,000 shares for approximately $715,000. Both sales were made under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards, making them less concerning than discretionary sales, although they may weigh modestly on sentiment. Wayfair insider transactions
• Negative Sentiment: Margin risk from promotions: Discounts as deep as 60% could pressure gross margins if higher order volume does not offset lower selling prices. The available reports do not yet provide evidence that the campaign is producing profitable incremental demand.

Insider Activity

In other news, CEO Niraj Shah sold 69,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the sale, the chief executive officer owned 360,137 shares in the company, valued at approximately $37,223,760.32. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 6,968 shares of Wayfair stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the sale, the insider directly owned 110,376 shares in the company, valued at approximately $11,061,882.72. The trade was a 5.94% 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. Over the last quarter, insiders sold 296,024 shares of company stock valued at $30,570,874. 18.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in W. Havemeyer Place LP acquired a new position in Wayfair during the 4th quarter worth approximately $39,000. IFP Advisors Inc lifted its holdings in shares of Wayfair by 79.2% in the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after buying an additional 358 shares during the period. Polaris Financial Partners acquired a new stake in shares of Wayfair in the 3rd quarter valued at approximately $113,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Wayfair in the first quarter valued at approximately $83,000. Finally, Rothschild Investment LLC boosted its stake in shares of Wayfair by 27.9% in the fourth quarter. Rothschild Investment LLC now owns 1,401 shares of the company’s stock valued at $141,000 after buying an additional 306 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.