Wayfair Inc. (NYSE:W) Receives $60.24 Consensus Target Price from Analysts

Wayfair Inc. (NYSE:W) has received an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $60.24.

Several equities research analysts have issued reports on the company. Mizuho cut their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Truist Financial cut their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Wayfair in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the completion of the sale, the insider now directly owns 179,073 shares in the company, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,228 shares of company stock worth $7,709,418 in the last 90 days. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Wayfair in the third quarter worth $29,000. J.Safra Asset Management Corp raised its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after purchasing an additional 502 shares during the period. GAMMA Investing LLC boosted its stake in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wayfair during the third quarter valued at about $44,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Trading Up 4.7 %

Shares of W stock opened at $47.57 on Friday. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The stock has a market capitalization of $5.96 billion, a P/E ratio of -10.60 and a beta of 3.43. The firm’s 50 day moving average is $47.08 and its 200 day moving average is $46.64.

Wayfair Company Profile

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.