Wayfair’s (W) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Wayfair (NYSE:W) in a report issued on Monday morning,Benzinga reports. The firm currently has a $60.00 price objective on the stock.

A number of other research firms have also recently weighed in on W. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $47.00 in a report on Friday, March 7th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Loop Capital reduced their price target on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Piper Sandler set a $58.00 price target on Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $56.81.

Wayfair Price Performance

NYSE:W opened at $33.25 on Monday. Wayfair has a 12-month low of $32.41 and a 12-month high of $76.18. The business has a 50 day simple moving average of $43.96 and a 200 day simple moving average of $46.03. The firm has a market capitalization of $4.22 billion, a P/E ratio of -8.27 and a beta of 3.44.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. Research analysts anticipate that Wayfair will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the transaction, the insider now directly owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. The trade was a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock worth $6,235,818 over the last ninety days. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after buying an additional 782,757 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares during the last quarter. Renaissance Technologies LLC grew its position in Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after acquiring an additional 581,000 shares in the last quarter. Finally, Southpoint Capital Advisors LP increased its stake in shares of Wayfair by 100.0% during the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after purchasing an additional 1,400,000 shares during the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

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.