Jefferies Financial Group Upgrades Wayfair (NYSE:W) to "Buy"

Wayfair (NYSE:W - Get Free Report) was upgraded by research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday, Marketbeat reports. The firm currently has a $47.00 price target on the stock, up from their previous price target of $45.00. Jefferies Financial Group's price target would indicate a potential upside of 34.10% from the company's previous close.

A number of other analysts also recently commented on W. Canaccord Genuity Group decreased their target price on Wayfair from $76.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on Wayfair from $50.00 to $43.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. Truist Financial cut their price target on Wayfair from $55.00 to $53.00 and set a "buy" rating for the company in a report on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Wayfair in a report on Friday, February 21st. Finally, Loop Capital cut their price target on Wayfair from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and a consensus target price of $57.69.

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Wayfair Stock Up 5.9 %

Shares of Wayfair stock traded up $1.95 during trading on Friday, reaching $35.05. The company's stock had a trading volume of 4,625,749 shares, compared to its average volume of 3,913,206. Wayfair has a 12-month low of $32.50 and a 12-month high of $76.18. The company has a market capitalization of $4.45 billion, a P/E ratio of -8.72 and a beta of 3.44. The business has a 50 day moving average price of $44.61 and a 200-day moving average price of $46.25.

Wayfair (NYSE:W - Get Free Report) last posted 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 business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Research analysts predict that Wayfair will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 5,669 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company's stock, valued at approximately $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Fiona Tan sold 8,249 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the transaction, the chief technology officer now directly owns 96,557 shares in the company, valued at approximately $4,336,374.87. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,235,818 over the last three months. 23.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its position in shares of Wayfair by 207.1% in the 4th 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 grew its position in shares of Wayfair by 71.3% in the 4th 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 grew its position in shares of Wayfair by 577.0% in the 4th 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 grew its position in shares of Wayfair by 65.5% in the 4th 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. Institutional investors and hedge funds 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.