BMO Capital Markets Issues Positive Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its target price upped by BMO Capital Markets from $50.00 to $55.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also weighed in on W. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada lowered their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Loop Capital decreased their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Wayfair in a report on Friday. Fourteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Wayfair Stock Performance

NYSE W opened at $41.92 on Friday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of -9.34 and a beta of 3.43. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The stock’s 50 day moving average price is $46.42 and its two-hundred day moving average price is $46.50.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, equities research analysts forecast that Wayfair will post -2.89 EPS for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,521 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48. Following the completion of the sale, the insider now directly owns 63,568 shares in the company, valued at $2,980,067.84. This represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,228 shares of company stock worth $7,830,018 in the last ninety days. 26.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank bought a new position in Wayfair in the fourth quarter valued at about $1,536,000. Neo Ivy Capital Management bought a new position in Wayfair in the fourth quarter valued at about $3,560,000. Southpoint Capital Advisors LP raised its position in Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock valued at $124,096,000 after purchasing an additional 1,400,000 shares during the last quarter. Two Sigma Advisers LP raised its position in Wayfair by 195.6% in the fourth quarter. Two Sigma Advisers LP now owns 412,000 shares of the company’s stock valued at $18,260,000 after purchasing an additional 272,600 shares during the last quarter. Finally, True Wealth Design LLC raised its position in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. 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.