Wayfair (NYSE:W) Shares Gap Up - What's Next?

Wayfair Inc. (NYSE:W - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $49.29, but opened at $51.60. Wayfair shares last traded at $52.34, with a volume of 796,566 shares.

Wall Street Analyst Weigh In

W has been the subject of several analyst reports. Loop Capital upped their price target on Wayfair from $45.00 to $55.00 and gave the stock a "hold" rating in a research note on Thursday, September 26th. Piper Sandler reduced their target price on shares of Wayfair from $67.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a "hold" rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of Wayfair from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Finally, BMO Capital Markets lowered their price objective on Wayfair from $58.00 to $50.00 and set a "market perform" rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.28.

Wayfair Price Performance

The company's 50-day moving average is $46.94 and its 200-day moving average is $49.23. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of -11.92 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The business's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.38) earnings per share. Sell-side analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares of the company's stock, valued at $6,257,088.35. The trade was a 5.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Conine sold 30,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 179,073 shares of the company's stock, valued at $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. Insiders have sold a total of 67,868 shares of company stock worth $3,272,548 over the last quarter. 26.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of the stock. Tabor Asset Management LP increased its holdings in shares of Wayfair by 11.3% in the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company's stock valued at $8,813,000 after acquiring an additional 15,932 shares during the last quarter. Highland Peak Capital LLC bought a new stake in Wayfair during the second quarter valued at $5,165,000. Sei Investments Co. raised its holdings in shares of Wayfair by 32.8% during the second quarter. Sei Investments Co. now owns 133,415 shares of the company's stock worth $7,035,000 after purchasing an additional 32,968 shares during the period. Cerity Partners LLC bought a new position in shares of Wayfair in the 3rd quarter worth about $1,070,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Wayfair in the 2nd quarter valued at about $8,189,000. Institutional investors and hedge funds 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.