Wayfair (NYSE:W) Receives Buy Rating from Needham & Company LLC

Wayfair (NYSE:W)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $60.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 25.29% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group cut their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Wedbush reduced their price target on Wayfair from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Raymond James dropped their price objective on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays reduced their target price on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Twelve investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

Wayfair Stock Up 1.2 %

NYSE W opened at $47.89 on Wednesday. The business has a 50-day moving average price of $48.62 and a 200-day moving average price of $53.29. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of -8.93 and a beta of 3.42.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm posted ($1.27) earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Research analysts expect that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,891 shares of company stock valued at $2,007,213 over the last 90 days. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Wayfair by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after buying an additional 273,652 shares in the last quarter. RFG Advisory LLC purchased a new position in Wayfair during the first quarter valued at $283,000. Riverview Trust Co acquired a new stake in shares of Wayfair in the first quarter valued at about $27,000. Diversified Trust Co purchased a new stake in shares of Wayfair during the first quarter worth about $231,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Wayfair by 29.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,441 shares of the company’s stock worth $34,920,000 after purchasing an additional 115,646 shares during the last quarter. Hedge funds and other institutional investors 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.