Citigroup Boosts Wayfair (NYSE:W) Price Target to $30.00

Wayfair (NYSE:W - Get Free Report) had its target price lifted by equities research analysts at Citigroup from $28.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 2.42% from the company's previous close.

Several other equities research analysts have also issued reports on W. Stifel Nicolaus dropped their target price on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the stock an "overweight" rating in a research note on Friday, February 21st. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Wayfair in a research note on Monday, March 10th. Wedbush reaffirmed a "neutral" rating and issued a $46.00 target price (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Sixteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $50.68.

Wayfair Price Performance

Shares of W traded down $0.12 during mid-day trading on Friday, hitting $29.29. The stock had a trading volume of 3,868,767 shares, compared to its average volume of 4,634,098. Wayfair has a 52 week low of $20.41 and a 52 week high of $76.18. The firm has a market cap of $3.72 billion, a P/E ratio of -7.29 and a beta of 3.72. The business has a fifty day moving average price of $32.54 and a 200-day moving average price of $41.45.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, research analysts expect that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 19,257 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.68, for a total transaction of $610,061.76. Following the sale, the insider now owns 78,308 shares of the company's stock, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kate Gulliver sold 19,296 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares of the company's stock, valued at $4,575,491.58. The trade was a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,863 shares of company stock valued at $3,393,929. 21.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp grew its position 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 during the period. Jones Financial Companies Lllp grew its position in 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 grew its position in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after purchasing an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Wayfair during the 4th quarter valued at $41,000. Institutional investors own 89.67% of the company's stock.

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.