Wayfair (NYSE:W) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a report issued on Monday.

W has been the subject of a number of other research reports. Truist Financial decreased their price objective on shares of Wayfair from $70.00 to $60.00 and set a buy rating for the company in a research note on Friday, August 2nd. TD Cowen lifted their price target on Wayfair from $55.00 to $58.00 and gave the company a hold rating in a report on Friday, May 3rd. Bank of America downgraded Wayfair from a buy rating to a neutral rating and reduced their price objective for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Wedbush lowered their target price on Wayfair from $70.00 to $60.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Finally, Piper Sandler dropped their target price on Wayfair from $91.00 to $67.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $67.00.

Wayfair Stock Up 1.7 %

NYSE:W opened at $41.11 on Monday. The business’s 50-day moving average price is $52.94 and its 200 day moving average price is $57.01. Wayfair has a 52-week low of $38.37 and a 52-week high of $81.22. The firm has a market cap of $4.95 billion, a P/E ratio of -7.67 and a beta of 3.43.

Wayfair (NYSE:W) last released its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.27) earnings per share. Sell-side analysts expect that Wayfair will post -2.93 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the sale, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Thomas Netzer sold 6,625 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total value of $336,152.50. Following the transaction, the chief operating officer now owns 157,239 shares in the company, valued at $7,978,306.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,102 shares of company stock worth $2,644,559. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in W. Riverview Trust Co bought a new position in shares of Wayfair in the first quarter worth $27,000. GAMMA Investing LLC purchased a new position in Wayfair during the 4th quarter valued at about $31,000. ORG Partners LLC bought a new stake in shares of Wayfair during the first quarter valued at about $37,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair in the second quarter worth about $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Wayfair in the fourth quarter valued at approximately $74,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.