Wayfair Inc. (NYSE:W)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. They presently have a $55.00 target price on the stock. Canaccord Genuity’s price objective suggests a potential upside of 40.49% from the company’s current price.
A number of other analysts have also commented on W. Vetr lowered Wayfair from a “strong-buy” rating to a “buy” rating and set a $48.00 price target on the stock. in a research note on Wednesday, June 8th. William Blair initiated coverage on Wayfair in a research report on Friday, June 10th. They set a “market perform” rating for the company. Longbow Research initiated coverage on Wayfair in a research report on Thursday, June 16th. They set a “neutral” rating for the company. Cowen and Company restated a “buy” rating and set a $61.00 price objective on shares of Wayfair in a research report on Tuesday, June 21st. Finally, Zacks Investment Research upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Saturday, July 9th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.42.
Wayfair (NYSE:W) opened at 39.15 on Tuesday. Wayfair has a 52-week low of $28.85 and a 52-week high of $50.00. The firm’s 50-day moving average price is $39.60 and its 200-day moving average price is $40.15. The firm’s market cap is $3.33 billion.
Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.02. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The firm had revenue of $755.70 million for the quarter, compared to analyst estimates of $782.43 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. Equities research analysts expect that Wayfair will post ($1.67) EPS for the current year.
In other Wayfair news, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $38.10, for a total value of $11,430,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edmond Macri sold 600 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $44.50, for a total value of $26,700.00. Following the completion of the transaction, the insider now directly owns 237,308 shares in the company, valued at approximately $10,560,206. The disclosure for this sale can be found here. Corporate insiders own 63.94% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of W. Baillie Gifford & Co. boosted its position in Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock valued at $58,876,000 after buying an additional 866,829 shares in the last quarter. Samlyn Capital LLC purchased a new stake in shares of Wayfair during the first quarter valued at about $31,237,000. Emerald Acquisition Ltd. purchased a new stake in shares of Wayfair during the second quarter valued at about $20,508,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Wayfair by 99.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 640,840 shares of the company’s stock valued at $24,993,000 after buying an additional 320,074 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Wayfair by 60.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 708,000 shares of the company’s stock valued at $27,612,000 after buying an additional 268,000 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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