Piper Jaffray Companies Reiterates “Buy” Rating for Wayfair Inc. (W)

Wayfair Inc. (NYSE:W)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued to investors on Friday, September 8th. They currently have a $89.00 target price on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 11.58% from the company’s current price.

A number of other analysts have also recently commented on W. Canaccord Genuity reiterated a “buy” rating on shares of Wayfair in a research report on Tuesday, August 8th. Buckingham Research reiterated a “buy” rating and set a $95.00 price objective on shares of Wayfair in a research report on Thursday, August 10th. BidaskClub cut Wayfair from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Credit Suisse Group lifted their price target on Wayfair from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Finally, Wolfe Research restated an “outperform” rating on shares of Wayfair in a report on Wednesday, August 9th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Wayfair has a consensus rating of “Buy” and an average price target of $72.84.

Wayfair (W) opened at 79.76 on Friday. The firm has a 50-day moving average of $73.18 and a 200 day moving average of $61.24. The company’s market capitalization is $6.95 billion. Wayfair has a 52-week low of $27.60 and a 52-week high of $83.36.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.43. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business’s revenue was up 42.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) EPS. Equities analysts predict that Wayfair will post ($1.45) earnings per share for the current fiscal year.

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In other news, insider Steven Conine sold 55,000 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $76.63, for a total value of $4,214,650.00. Following the completion of the transaction, the insider now owns 55,000 shares of the company’s stock, valued at $4,214,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edmond Macri sold 600 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $73.87, for a total value of $44,322.00. Following the completion of the sale, the insider now owns 500 shares of the company’s stock, valued at approximately $36,935. The disclosure for this sale can be found here. Insiders sold a total of 903,962 shares of company stock valued at $66,612,893 over the last quarter. Company insiders own 56.93% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Wayfair during the second quarter valued at $27,345,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wayfair during the second quarter valued at $277,000. Verition Fund Management LLC purchased a new stake in shares of Wayfair during the second quarter valued at $251,000. California State Teachers Retirement System lifted its holdings in shares of Wayfair by 10.0% during the second quarter. California State Teachers Retirement System now owns 68,366 shares of the company’s stock valued at $5,256,000 after purchasing an additional 6,224 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Wayfair during the second quarter valued at $3,466,000.

About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

Analyst Recommendations for Wayfair (NYSE:W)

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