Wayfair Inc. (NYSE:W) Given Average Recommendation of "Hold" by Analysts

Wayfair Inc. (NYSE:W - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-six ratings firms that are presently covering the stock, Marketbeat reports. Fifteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $52.00.

W has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Wayfair from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Friday, March 7th. Canaccord Genuity Group lowered their target price on shares of Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group reduced their price target on shares of Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday. Loop Capital lowered their price objective on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Finally, Citigroup downgraded shares of Wayfair from a "buy" rating to a "neutral" rating and cut their target price for the stock from $58.00 to $28.00 in a research report on Friday, April 4th.

Wayfair Trading Up 6.3 %

Shares of NYSE:W opened at $27.43 on Wednesday. The stock has a fifty day simple moving average of $33.76 and a two-hundred day simple moving average of $42.10. Wayfair has a 12-month low of $20.41 and a 12-month high of $76.18. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -6.82 and a beta of 3.72.

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

Insider Buying and Selling

In other news, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total value of $610,061.76. Following the sale, the insider now directly owns 78,308 shares of the company's stock, valued at approximately $2,480,797.44. The trade was a 19.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the transaction, the chief technology officer now directly owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,863 shares of company stock worth $3,393,929. 21.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently bought and sold shares of the business. Optas LLC lifted its stake in shares of Wayfair by 103.3% in the 1st quarter. Optas LLC now owns 9,274 shares of the company's stock valued at $297,000 after purchasing an additional 4,712 shares during the last quarter. SG Americas Securities LLC boosted its stake in Wayfair by 74.4% during the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock worth $703,000 after buying an additional 9,372 shares during the period. GAMMA Investing LLC raised its stake in shares of Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares during the period. Chemistry Wealth Management LLC lifted its holdings in shares of Wayfair by 16.1% in the 1st quarter. Chemistry Wealth Management LLC now owns 39,781 shares of the company's stock worth $1,274,000 after acquiring an additional 5,526 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Wayfair by 4.3% during the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock worth $2,923,000 after purchasing an additional 3,725 shares during the period. Institutional investors own 89.67% of the company's stock.

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.

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