BMO Capital Markets Increases Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W) had its price target increased by BMO Capital Markets from $50.00 to $55.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

W has been the subject of several other research reports. Loop Capital decreased their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday. Wedbush cut Wayfair from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $44.00 in a research note on Monday, January 6th. Stifel Nicolaus decreased their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Wayfair in a research note on Friday. Finally, Royal Bank of Canada decreased their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

Wayfair Trading Down 9.0 %

Shares of W stock opened at $41.92 on Friday. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of -9.34 and a beta of 3.43. The stock has a 50-day moving average of $46.42 and a 200-day moving average of $46.50. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Sell-side analysts forecast that Wayfair will post -2.89 earnings per share for the current year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,228 shares of company stock worth $7,830,018 over the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

A number of hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in Wayfair in the third quarter worth $29,000. True Wealth Design LLC increased its position in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares during the last quarter. J.Safra Asset Management Corp increased its position in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp increased its position in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 281 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

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.