Wayfair (NYSE:W) Earns "Buy" Rating from Guggenheim

Wayfair (NYSE:W - Get Free Report)'s stock had its "buy" rating reaffirmed by Guggenheim in a report released on Monday,Benzinga reports. They presently have a $60.00 price objective on the stock. Guggenheim's price objective indicates a potential upside of 75.62% from the stock's current price.

A number of other equities research analysts have also recently commented on W. Piper Sandler set a $58.00 price target on shares of Wayfair and gave the stock an "overweight" rating in a report on Friday, February 21st. Loop Capital reduced their price target on shares of Wayfair from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Stifel Nicolaus reduced their price target on shares of Wayfair from $47.00 to $46.00 and set a "hold" rating for the company in a report on Friday, February 21st. Finally, Wedbush restated a "neutral" rating and issued a $46.00 price target (up from $44.00) on shares of Wayfair in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $56.81.

Wayfair Price Performance

Shares of W traded up $0.82 during trading hours on Monday, hitting $34.17. 4,183,619 shares of the stock were exchanged, compared to its average volume of 3,921,066. Wayfair has a fifty-two week low of $32.41 and a fifty-two week high of $76.18. The business has a 50-day moving average of $44.18 and a 200-day moving average of $46.12. The firm has a market capitalization of $4.34 billion, a P/E ratio of -8.50 and a beta of 3.44.

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

Insider Activity

In other Wayfair news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the transaction, the chief technology officer now directly owns 96,557 shares of the company's stock, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares of the company's stock, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock valued at $6,235,818 over the last three months. Corporate insiders own 26.81% of the company's stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair during the third quarter worth $29,000. True Wealth Design LLC lifted its position in shares of Wayfair by 207.1% during the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after acquiring an additional 281 shares in the last quarter. 89.67% of the stock is owned by 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.