Brokerages Set Wayfair Inc. (NYSE:W) Target Price at $60.24

Wayfair Inc. (NYSE:W - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-six research firms that are covering the firm, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $60.24.

A number of research firms recently issued reports on W. StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. BMO Capital Markets dropped their price objective on shares of Wayfair from $58.00 to $50.00 and set a "market perform" rating on the stock in a report on Monday, November 4th. Robert W. Baird cut their price objective on shares of Wayfair from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. UBS Group cut their price target on Wayfair from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus cut their target price on Wayfair from $55.00 to $47.00 and set a "hold" rating on the stock in a research note on Monday, November 4th.

Wayfair Stock Performance

Wayfair stock traded down $0.31 during trading hours on Monday, reaching $43.79. 3,175,021 shares of the company's stock traded hands, compared to its average volume of 3,255,631. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The firm's 50 day moving average is $45.46 and its 200-day moving average is $47.52. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -9.75 and a beta of 3.43.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.38) EPS. Analysts predict that Wayfair will post -2.91 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,966 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $44.93, for a total value of $223,122.38. Following the completion of the sale, the insider now owns 68,089 shares in the company, valued at $3,059,238.77. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company's stock, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,481 shares of company stock worth $6,007,310. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

A number of large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Wayfair by 38.2% in the second quarter. Commonwealth Equity Services LLC now owns 10,221 shares of the company's stock valued at $539,000 after acquiring an additional 2,825 shares during the period. Victory Capital Management Inc. lifted its position in Wayfair by 26.5% during the second quarter. Victory Capital Management Inc. now owns 228,724 shares of the company's stock valued at $12,061,000 after purchasing an additional 47,978 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Wayfair in the 2nd quarter worth approximately $311,000. Quest Partners LLC increased its holdings in shares of Wayfair by 26,586.7% in the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company's stock worth $211,000 after buying an additional 3,988 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company's stock valued at $162,755,000 after buying an additional 675,271 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.