Analysts Set Wayfair Inc. (NYSE:W) Target Price at $60.24

Wayfair Inc. (NYSE:W) has been given an average rating of “Moderate Buy” by the twenty-six brokerages that are presently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $60.24.

Several equities research analysts have issued reports on the stock. Loop Capital lifted their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Truist Financial dropped their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada dropped their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, November 4th.

Wayfair Price Performance

Shares of Wayfair stock opened at $44.42 on Friday. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The firm has a market cap of $5.57 billion, a PE ratio of -9.89 and a beta of 3.43. The company has a 50 day simple moving average of $47.25 and a two-hundred day simple moving average of $46.71.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.95, for a total value of $268,531.30. Following the completion of the transaction, the chief financial officer now directly owns 129,964 shares in the company, valued at approximately $5,841,881.80. This represents a 4.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 8,249 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the transaction, the chief technology officer now owns 96,557 shares of the company’s stock, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock valued at $7,709,418 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of W. J.Safra Asset Management Corp increased its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair in the 3rd quarter worth about $44,000. 89.67% of the stock is currently owned by institutional investors.

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.