Wayfair Inc. (NYSE:W) Earns Buy Rating from Cowen and Company

Cowen and Company restated their buy rating on shares of Wayfair Inc. (NYSE:W) in a report issued on Wednesday, November 1st. The firm currently has a $72.00 price target on the stock, down from their previous price target of $82.00.

A number of other equities analysts also recently issued reports on the company. MKM Partners assumed coverage on Wayfair in a research report on Wednesday, October 18th. They set a buy rating and a $85.00 price target on the stock. Oppenheimer Holdings, Inc. set a $88.00 price target on Wayfair and gave the stock a buy rating in a research report on Wednesday, October 18th. Piper Jaffray Companies set a $89.00 target price on Wayfair and gave the company a buy rating in a research report on Monday, October 16th. Wedbush restated an outperform rating and issued a $82.00 target price on shares of Wayfair in a research report on Wednesday, October 4th. Finally, Canaccord Genuity restated a buy rating and issued a $90.00 target price on shares of Wayfair in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $76.01.

Wayfair (W) opened at $61.57 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.19 and a debt-to-equity ratio of 135.98. Wayfair has a 1 year low of $32.61 and a 1 year high of $84.19.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.03. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. Wayfair’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.54) earnings per share. research analysts anticipate that Wayfair will post -2.58 earnings per share for the current year.

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In other news, SVP Steve Oblak sold 805 shares of Wayfair stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $70.68, for a total value of $56,897.40. Following the completion of the sale, the senior vice president now directly owns 120,534 shares of the company’s stock, valued at $8,519,343.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $64.17, for a total value of $38,502.00. Following the completion of the sale, the insider now directly owns 124,674 shares of the company’s stock, valued at $8,000,330.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,809 shares of company stock valued at $22,666,484. 56.93% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Utah Retirement Systems acquired a new stake in shares of Wayfair in the second quarter valued at $539,000. Ameriprise Financial Inc. purchased a new position in Wayfair in the first quarter valued at $1,650,000. Old Mutual Global Investors UK Ltd. purchased a new position in Wayfair in the second quarter valued at $738,000. Baillie Gifford & Co. boosted its holdings in Wayfair by 5.7% in the second quarter. Baillie Gifford & Co. now owns 1,914,674 shares of the company’s stock valued at $147,200,000 after purchasing an additional 102,460 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in Wayfair in the second quarter valued at $4,015,000. 66.99% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

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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