Wayfair Inc. (NYSE:W) Given Average Rating of “Moderate Buy” by Brokerages

Wayfair Inc. (NYSE:WGet Free Report) has received an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the stock, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.38.

A number of brokerages recently commented on W. Morgan Stanley upgraded Wayfair from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $80.00 in a research report on Tuesday, January 16th. Stephens reduced their price objective on Wayfair from $105.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Stifel Nicolaus raised their target price on Wayfair from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Loop Capital raised Wayfair from a “sell” rating to a “hold” rating and cut their target price for the stock from $60.00 to $50.00 in a research note on Monday, October 16th. Finally, BMO Capital Markets initiated coverage on Wayfair in a research note on Tuesday, January 9th. They set a “market perform” rating and a $57.00 target price for the company.

Check Out Our Latest Report on Wayfair

Wayfair Price Performance

NYSE W opened at $51.55 on Monday. Wayfair has a 1-year low of $29.51 and a 1-year high of $90.71. The company has a market cap of $6.08 billion, a PE ratio of -6.22 and a beta of 3.32. The stock’s 50 day simple moving average is $57.33 and its 200-day simple moving average is $59.27.

Insiders Place Their Bets

In other Wayfair news, COO Thomas Netzer sold 982 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $62.87, for a total transaction of $61,738.34. Following the transaction, the chief operating officer now owns 118,715 shares in the company, valued at approximately $7,463,612.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Steven Conine sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $52.37, for a total value of $523,700.00. Following the sale, the insider now owns 289,073 shares in the company, valued at approximately $15,138,753.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 982 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $62.87, for a total value of $61,738.34. Following the completion of the sale, the chief operating officer now owns 118,715 shares in the company, valued at approximately $7,463,612.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,818 shares of company stock worth $3,153,922. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of the stock. Truist Financial Corp purchased a new position in Wayfair during the fourth quarter worth $504,000. Semanteon Capital Management LP purchased a new position in Wayfair during the fourth quarter worth $1,177,000. State of New Jersey Common Pension Fund D increased its position in Wayfair by 4.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,356 shares of the company’s stock worth $3,045,000 after buying an additional 2,215 shares in the last quarter. GAMMA Investing LLC purchased a new position in Wayfair during the fourth quarter worth $31,000. Finally, Handelsbanken Fonder AB increased its position in Wayfair by 5.6% during the fourth quarter. Handelsbanken Fonder AB now owns 17,100 shares of the company’s stock worth $1,055,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

(Get Free Report

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.

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Analyst Recommendations for Wayfair (NYSE:W)

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