Wayfair (NYSE:W) had its price objective lifted by analysts at Bank of America from $95.00 to $125.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Bank of America’s price objective suggests a potential upside of 5.36% from the stock’s previous close.
Other research analysts have also issued research reports about the company. ValuEngine raised Wayfair from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Morgan Stanley began coverage on Wayfair in a research report on Wednesday, April 25th. They set an “equal weight” rating and a $75.00 price objective for the company. Oppenheimer raised their price objective on Wayfair to $120.00 and gave the company an “outperform” rating in a research report on Friday, June 8th. DA Davidson lowered Wayfair from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research report on Friday, March 16th. Finally, Zacks Investment Research raised Wayfair from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $98.22.
Wayfair opened at $118.64 on Wednesday, according to MarketBeat.com. The company has a market capitalization of $9.99 billion, a PE ratio of -42.37 and a beta of 1.57. The company has a debt-to-equity ratio of -3.30, a current ratio of 1.00 and a quick ratio of 0.95. Wayfair has a 52 week low of $55.33 and a 52 week high of $119.84.
Wayfair (NYSE:W) last released its earnings results on Wednesday, May 2nd. The company reported ($0.91) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Wayfair had a negative net margin of 5.73% and a negative return on equity of 31,507.11%. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. research analysts expect that Wayfair will post -4.5 earnings per share for the current fiscal year.
In other news, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $111.37, for a total value of $66,822.00. Following the transaction, the insider now directly owns 42,507 shares in the company, valued at approximately $4,734,004.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 4,000 shares of the firm’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $110.59, for a total value of $442,360.00. Following the completion of the transaction, the chief executive officer now owns 43,393 shares in the company, valued at $4,798,831.87. The disclosure for this sale can be found here. In the last three months, insiders sold 93,808 shares of company stock valued at $9,187,379. Corporate insiders own 37.75% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Spruce House Investment Management LLC lifted its position in Wayfair by 40.0% during the first quarter. Spruce House Investment Management LLC now owns 3,500,000 shares of the company’s stock valued at $236,355,000 after purchasing an additional 1,000,000 shares in the last quarter. Carmignac Gestion lifted its position in Wayfair by 230.3% during the first quarter. Carmignac Gestion now owns 2,661,902 shares of the company’s stock valued at $179,758,000 after purchasing an additional 1,855,970 shares in the last quarter. Baillie Gifford & Co. lifted its position in Wayfair by 16.0% during the first quarter. Baillie Gifford & Co. now owns 2,365,049 shares of the company’s stock valued at $159,711,000 after purchasing an additional 326,612 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wayfair by 36.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,272,300 shares of the company’s stock valued at $102,128,000 after purchasing an additional 341,900 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Wayfair by 1,724.1% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,771 shares of the company’s stock valued at $88,439,000 after purchasing an additional 1,041,371 shares in the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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