Wayfair (NYSE:W) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Wedbush lifted their target price on shares of Wayfair from $125.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird boosted their target price on shares of Wayfair from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Mizuho set a $132.00 price target on shares of Wayfair in a report on Thursday, October 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 price target on shares of Wayfair in a research report on Wednesday, November 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Wayfair in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.00.

Wayfair Stock Performance

Shares of W stock opened at $116.78 on Friday. The stock’s 50 day simple moving average is $106.14 and its 200 day simple moving average is $89.22. Wayfair has a twelve month low of $55.60 and a twelve month high of $127.99. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 127.38, a PEG ratio of 4.26 and a beta of 3.10.

Wayfair (NYSE:W) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Wayfair had a negative net margin of 1.21% and a negative return on equity of 5.14%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Wayfair’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts forecast that Wayfair will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, CEO Niraj Shah sold 117,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the chief executive officer owned 105,137 shares of the company’s stock, valued at $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 500 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the transaction, the insider directly owned 115,385 shares of the company’s stock, valued at $13,846,200. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 692,070 shares of company stock valued at $74,096,044 in the last 90 days. Insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Wayfair in the 2nd quarter worth approximately $2,001,000. Baird Financial Group Inc. bought a new stake in Wayfair during the 2nd quarter worth approximately $16,362,000. WINTON GROUP Ltd acquired a new stake in Wayfair during the 2nd quarter valued at $3,207,000. Assenagon Asset Management S.A. increased its holdings in Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Wayfair during the 2nd quarter valued at $2,874,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares.

The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets.

Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.