Wayfair’s (W) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Wayfair (NYSE:W) in a report released on Friday, Benzinga reports. They currently have a $60.00 price objective on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group dropped their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Raymond James lowered 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, Stifel Nicolaus reduced their target price on Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Twelve 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.21.

Wayfair Stock Down 6.3 %

W opened at $40.15 on Friday. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market capitalization of $4.96 billion, a P/E ratio of -7.59 and a beta of 3.46. The stock’s 50 day moving average price is $48.69 and its two-hundred day moving average price is $52.35.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.27) earnings per share. As a group, analysts anticipate that Wayfair will post -2.68 earnings per share for the current year.

Insider Activity

In related news, insider Jon Blotner sold 4,600 shares of Wayfair stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Blotner sold 4,600 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,471 shares of company stock valued at $1,987,002. Company insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently modified their holdings of the stock. WealthPlan Investment Management LLC raised its stake in Wayfair by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after buying an additional 271 shares during the period. Creative Planning lifted its holdings in shares of Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Wayfair by 12.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after purchasing an additional 399 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Wayfair during the 3rd quarter worth approximately $29,000. 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.