Oppenheimer Holdings, Inc. set a $88.00 target price on Wayfair Inc. (NYSE:W) in a report released on Wednesday, October 18th. The firm currently has a buy rating on the stock.
W has been the subject of several other research reports. Buckingham Research reiterated a buy rating and set a $95.00 price target on shares of Wayfair in a report on Thursday, August 10th. Piper Jaffray Companies set a $87.00 price target on shares of Wayfair and gave the stock a buy rating in a report on Friday, July 28th. Canaccord Genuity reiterated a buy rating and set a $90.00 price target on shares of Wayfair in a report on Sunday, October 1st. Gordon Haskett cut shares of Wayfair from a buy rating to an accumulate rating and boosted their price target for the stock from $70.00 to $85.00 in a report on Tuesday, June 27th. Finally, Stifel Nicolaus upgraded shares of Wayfair from a hold rating to a buy rating and upped their target price for the company from $75.00 to $78.00 in a report on Friday, August 25th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Wayfair currently has a consensus rating of Buy and an average price target of $77.51.
Wayfair (NYSE:W) traded up 5.83% during trading on Wednesday, hitting $67.55. 3,117,731 shares of the stock were exchanged. Wayfair has a 12 month low of $27.60 and a 12 month high of $84.19. The stock’s market cap is $5.89 billion. The stock’s 50 day moving average price is $71.96 and its 200 day moving average price is $68.03.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.43. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. Analysts forecast that Wayfair will post ($1.45) EPS for the current fiscal year.
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In other Wayfair news, insider Edmond Macri sold 600 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $65.76, for a total transaction of $39,456.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 36,060 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $70.57, for a total transaction of $2,544,754.20. Following the transaction, the insider now owns 10,130 shares of the company’s stock, valued at approximately $714,874.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 510,838 shares of company stock valued at $36,801,930. 56.93% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. raised its position in Wayfair by 1.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,938,701 shares of the company’s stock worth $130,669,000 after buying an additional 24,027 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA purchased a new position in shares of Wayfair in the 3rd quarter valued at about $2,905,000. Delta Asset Management LLC TN increased its holdings in shares of Wayfair by 375.0% in the 3rd quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock valued at $128,000 after purchasing an additional 1,500 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Wayfair by 55.6% in the 3rd quarter. Penserra Capital Management LLC now owns 58,579 shares of the company’s stock valued at $3,948,000 after purchasing an additional 20,920 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Wayfair by 17.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 64,500 shares of the company’s stock valued at $4,347,000 after purchasing an additional 9,500 shares in the last quarter. Institutional investors own 65.94% of the company’s stock.
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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