Wayfair Inc (NYSE:W)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $110.16, but opened at $115.09. Wayfair shares last traded at $117.20, with a volume of 2,619,882 shares trading hands.
Several research firms recently weighed in on W. Needham & Company LLC began coverage on Wayfair in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price target on the stock. Jefferies Financial Group began coverage on Wayfair in a research report on Friday, May 17th. They set a “buy” rating and a $192.00 price target on the stock. Berenberg Bank began coverage on Wayfair in a research report on Thursday, May 9th. They set a “sell” rating and a $121.00 price target on the stock. Deutsche Bank dropped their target price on Wayfair from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Credit Suisse Group dropped their target price on Wayfair from $195.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Wayfair currently has an average rating of “Buy” and an average price target of $155.74.
The company has a market cap of $10.35 billion, a P/E ratio of -20.89 and a beta of 1.88. The firm has a 50 day moving average price of $133.29 and a 200-day moving average price of $145.05.
Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, August 1st. The company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.62. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. The business’s revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.77) EPS. Equities analysts forecast that Wayfair Inc will post -9.36 earnings per share for the current fiscal year.
In related news, CFO Michael D. Fleisher sold 477 shares of the stock in a transaction that occurred on Saturday, June 15th. The stock was sold at an average price of $156.06, for a total transaction of $74,440.62. Following the completion of the sale, the chief financial officer now owns 128,675 shares in the company, valued at approximately $20,081,020.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edmond Macri sold 300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $144.42, for a total value of $43,326.00. Following the sale, the insider now owns 950 shares of the company’s stock, valued at approximately $137,199. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,744 shares of company stock valued at $5,340,433. 33.86% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of Wayfair by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 375,981 shares of the company’s stock worth $55,815,000 after buying an additional 2,221 shares in the last quarter. Investors Research Corp acquired a new position in shares of Wayfair in the 1st quarter worth approximately $52,000. Shell Asset Management Co. raised its holdings in shares of Wayfair by 701.8% in the 1st quarter. Shell Asset Management Co. now owns 3,977 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares in the last quarter. Boston Financial Mangement LLC acquired a new position in shares of Wayfair in the 1st quarter worth approximately $241,000. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Wayfair by 13.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 2,600 shares of the company’s stock worth $380,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.
Wayfair Company Profile (NYSE:W)
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
Further Reading: Fundamental Analysis and Individual Investors
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