Equities research analysts at StockNews.com initiated coverage on shares of Wayfair (NYSE:W – Get Rating) in a research note issued to investors on Thursday. The firm set a “sell” rating on the stock.
Several other equities analysts have also recently issued reports on W. Robert W. Baird lowered their price objective on shares of Wayfair from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, February 24th. Gordon Haskett lowered their price objective on shares of Wayfair from $62.00 to $40.00 in a research note on Thursday, February 23rd. Piper Sandler lifted their price objective on shares of Wayfair from $40.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Barclays decreased their target price on shares of Wayfair from $70.00 to $40.00 in a report on Monday, February 27th. Finally, Wolfe Research assumed coverage on shares of Wayfair in a report on Thursday, December 15th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.14.
Wayfair Trading Up 4.1 %
Wayfair stock opened at $32.29 on Thursday. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -2.57 and a beta of 3.10. The company’s 50-day moving average price is $47.50 and its two-hundred day moving average price is $41.16. Wayfair has a 52 week low of $28.11 and a 52 week high of $130.58.
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Wayfair (NYSE:W – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($3.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.04) by ($0.15). The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. Research analysts expect that Wayfair will post -9.33 earnings per share for the current fiscal year.
Insider Buying and Selling at Wayfair
In other news, insider Steve Oblak sold 2,889 shares of Wayfair stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.69, for a total value of $111,775.41. Following the transaction, the insider now owns 188,070 shares of the company’s stock, valued at $7,276,428.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Steve Oblak sold 2,889 shares of Wayfair stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.69, for a total value of $111,775.41. Following the transaction, the insider now owns 188,070 shares of the company’s stock, valued at $7,276,428.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kate Gulliver sold 1,442 shares of Wayfair stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $38.61, for a total transaction of $55,675.62. Following the completion of the transaction, the chief financial officer now directly owns 24,269 shares in the company, valued at approximately $937,026.09. The disclosure for this sale can be found here. Insiders sold 43,523 shares of company stock worth $1,949,558 over the last ninety days. 26.81% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Wayfair
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Wayfair by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,540,088 shares of the company’s stock worth $724,512,000 after acquiring an additional 132,647 shares during the period. Bares Capital Management Inc. increased its position in Wayfair by 8.0% during the second quarter. Bares Capital Management Inc. now owns 4,914,119 shares of the company’s stock worth $214,059,000 after acquiring an additional 362,256 shares during the period. Capital World Investors increased its position in Wayfair by 2.8% during the first quarter. Capital World Investors now owns 3,681,729 shares of the company’s stock worth $407,862,000 after acquiring an additional 100,946 shares during the period. Spruce House Investment Management LLC boosted its stake in Wayfair by 4.3% during the fourth quarter. Spruce House Investment Management LLC now owns 3,650,000 shares of the company’s stock worth $120,048,000 after buying an additional 150,000 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. boosted its stake in Wayfair by 9.1% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock worth $381,085,000 after buying an additional 285,729 shares in the last quarter. Institutional investors own 90.61% of the company’s stock.
About Wayfair
Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.