Piper Jaffray Companies Analysts Give Wayfair Inc. (W) a $89.00 Price Target
Other equities analysts have also issued research reports about the stock. Buckingham Research reaffirmed a buy rating and set a $95.00 price objective (up previously from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. DA Davidson started coverage on Wayfair in a report on Wednesday, September 13th. They set a neutral rating and a $78.00 price target on the stock. Oppenheimer Holdings, Inc. set a $88.00 price target on Wayfair and gave the company a buy rating in a report on Friday, August 4th. Wedbush reiterated a buy rating on shares of Wayfair in a report on Wednesday, August 9th. Finally, Maxim Group downgraded shares of Wayfair from a buy rating to a hold rating and raised their price objective for the stock from $27.60 to $76.17 in a research note on Monday, June 19th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $77.07.
Wayfair (NYSE W) traded up 3.24% during midday trading on Friday, reaching $71.42. 1,919,465 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $73.17 and its 200-day moving average price is $66.19. Wayfair has a 1-year low of $27.60 and a 1-year high of $84.19. The company’s market capitalization is $6.23 billion.
Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.43. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The firm’s revenue was up 42.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) earnings per share. Equities analysts expect that Wayfair will post ($1.45) EPS for the current year.
In other Wayfair news, insider Edmond Macri sold 600 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $65.76, for a total value of $39,456.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael D. Fleisher sold 4,730 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $65.80, for a total value of $311,234.00. Following the completion of the transaction, the chief financial officer now directly owns 45,580 shares in the company, valued at $2,999,164. The disclosure for this sale can be found here. Insiders sold a total of 712,551 shares of company stock worth $52,425,648 in the last 90 days. Company insiders own 56.93% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Wayfair by 2.7% in the second quarter. FMR LLC now owns 7,757,688 shares of the company’s stock valued at $596,411,000 after buying an additional 207,443 shares in the last quarter. Vanguard Group Inc. boosted its stake in Wayfair by 16.3% in the second quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock valued at $232,857,000 after buying an additional 423,631 shares in the last quarter. Baillie Gifford & Co. boosted its stake 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 buying an additional 102,460 shares in the last quarter. Columbia Wanger Asset Management LLC acquired a new stake in Wayfair in the first quarter valued at about $42,729,000. Finally, Allen Investment Management LLC boosted its stake in Wayfair by 25.7% in the second quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after buying an additional 180,000 shares in the last quarter. 66.15% of the stock is currently 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.
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