Brokerages Set Wayfair Inc. (NYSE:W) Price Target at $56.81

Wayfair Inc. (NYSE:W - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-seven research firms that are presently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $56.81.

Several research analysts have recently issued reports on the stock. Wedbush restated a "neutral" rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Piper Sandler set a $58.00 price target on Wayfair and gave the company an "overweight" rating in a report on Friday, February 21st. Truist Financial dropped their price objective on Wayfair from $55.00 to $53.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th.

Insider Transactions at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the completion of the sale, the chief financial officer now owns 129,964 shares of the company's stock, valued at approximately $5,841,881.80. The trade was a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 4,521 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.88, for a total value of $211,944.48. Following the completion of the sale, the insider now owns 63,568 shares of the company's stock, valued at approximately $2,980,067.84. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,742 shares of company stock worth $6,031,859 in the last quarter. Company insiders own 26.81% of the company's stock.

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Hedge Funds Weigh In On Wayfair

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Wayfair by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company's stock valued at $3,860,000 after acquiring an additional 383 shares in the last quarter. Employees Retirement System of Texas raised its stake in Wayfair by 28.5% during the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company's stock valued at $1,563,000 after purchasing an additional 7,813 shares during the period. Polar Asset Management Partners Inc. raised its stake in Wayfair by 142.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company's stock valued at $6,721,000 after purchasing an additional 89,053 shares during the period. Toronto Dominion Bank purchased a new position in Wayfair in the 4th quarter worth approximately $1,536,000. Finally, Neo Ivy Capital Management bought a new position in Wayfair in the 4th quarter worth approximately $3,560,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Stock Up 5.5 %

Shares of Wayfair stock traded up $1.76 during trading on Friday, hitting $33.70. 6,463,138 shares of the stock traded hands, compared to its average volume of 4,328,821. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -8.38 and a beta of 3.44. Wayfair has a 52 week low of $27.91 and a 52 week high of $76.18. The firm's fifty day moving average is $40.41 and its 200-day moving average is $45.01.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, analysts forecast that Wayfair will post -2.54 earnings per share for the current fiscal year.

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.