Wayfair (NYSE:W) Trading Up 3.2% - Should You Buy?

Wayfair Inc. (NYSE:W - Get Free Report) rose 3.2% during mid-day trading on Friday . The stock traded as high as $45.36 and last traded at $45.13. Approximately 182,965 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 4,398,500 shares. The stock had previously closed at $43.75.

Wall Street Analyst Weigh In

W has been the topic of several research reports. Guggenheim restated a "buy" rating and set a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Mizuho dropped their price target on shares of Wayfair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. StockNews.com raised Wayfair from a "sell" rating to a "hold" rating in a report on Thursday. Loop Capital raised their target price on Wayfair from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday. Finally, Wedbush decreased their price target on Wayfair from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.28.

Wayfair Stock Performance

The firm has a market capitalization of $5.73 billion, a P/E ratio of -10.18 and a beta of 3.44. The stock has a 50 day moving average of $46.29 and a 200-day moving average of $48.74.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter last year, the firm posted ($1.38) earnings per share. Wayfair's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Wayfair Inc. will post -2.91 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the sale, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas Netzer sold 8,435 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $447,561.10. Following the completion of the transaction, the chief operating officer now directly owns 179,180 shares in the company, valued at approximately $9,507,290.80. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,896 shares of company stock valued at $4,869,409. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in Wayfair by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company's stock worth $162,755,000 after acquiring an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP grew its holdings in shares of Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company's stock worth $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Wayfair by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company's stock worth $85,690,000 after buying an additional 35,268 shares during the period. Southpoint Capital Advisors LP bought a new stake in Wayfair during the 3rd quarter valued at $78,652,000. Finally, Holocene Advisors LP raised its holdings in Wayfair by 5,699.8% during the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company's stock valued at $69,393,000 after buying an additional 1,213,896 shares during the last quarter. Institutional investors own 89.67% of the company's stock.

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.