Wayfair (NYSE:W) Shares Gap Up – Should You Buy?

Wayfair Inc. (NYSE:W)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $46.33, but opened at $49.22. Wayfair shares last traded at $45.36, with a volume of 2,939,805 shares.

Wall Street Analyst Weigh In

W has been the subject of a number of analyst reports. Robert W. Baird decreased their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Bank of America lowered their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. Loop Capital cut their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday. Stifel Nicolaus lowered their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research report on Friday. Finally, Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Wayfair Price Performance

The company has a 50-day moving average of $46.42 and a two-hundred day moving average of $46.50. The company has a market capitalization of $5.25 billion, a PE ratio of -10.43 and a beta of 3.43.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now directly owns 559,073 shares in the company, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,228 shares of company stock worth $7,830,018. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently made changes to their positions in the company. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Creative Planning increased its stake in Wayfair by 2.1% during the third quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after acquiring an additional 272 shares during the last quarter. GAMMA Investing LLC raised its position in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares during the period. True Wealth Design LLC lifted its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after purchasing an additional 502 shares during the last quarter. 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.