Wayfair Inc. (NYSE:W – Get Free Report)’s share price shot up 6.3% during mid-day trading on Tuesday . The company traded as high as $40.65 and last traded at $40.60. 367,309 shares traded hands during trading, a decline of 91% from the average session volume of 4,285,183 shares. The stock had previously closed at $38.21.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on W. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Wedbush reduced their target price on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Truist Financial lowered their price target on shares of Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Raymond James decreased their price objective on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Wayfair in a report on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.
Wayfair Price Performance
The company has a fifty day simple moving average of $51.78 and a 200-day simple moving average of $56.65. The company has a market cap of $5.07 billion, a P/E ratio of -7.88 and a beta of 3.43.
Wayfair (NYSE:W – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.27) earnings per share. On average, analysts anticipate that Wayfair Inc. will post -2.8 EPS for the current year.
Insiders Place Their Bets
In other news, insider Jon Blotner sold 4,801 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares of the company’s stock, valued at approximately $2,708,094.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Wayfair news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the insider now owns 219,073 shares in the company, valued at approximately $12,441,155.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Blotner sold 4,801 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total value of $244,610.95. Following the sale, the insider now owns 53,152 shares in the company, valued at approximately $2,708,094.40. The disclosure for this sale can be found here. Insiders sold 50,102 shares of company stock worth $2,644,559 over the last three months. 26.81% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Wayfair
A number of hedge funds and other institutional investors have recently made changes to their positions in W. Riverview Trust Co acquired a new position in Wayfair in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in Wayfair in the 4th quarter valued at $31,000. ORG Partners LLC bought a new stake in Wayfair during the first quarter worth $37,000. International Assets Investment Management LLC bought a new stake in shares of Wayfair in the 2nd quarter worth approximately $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Wayfair during the fourth quarter valued at about $74,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.
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.