Wayfair Inc (NYSE:W) hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $156.78 and last traded at $151.72, with a volume of 303272 shares traded. The stock had previously closed at $117.28.
The company reported ($1.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.30) by $0.18. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business posted ($0.58) earnings per share. The firm’s revenue was up 40.0% on a year-over-year basis.
A number of research analysts recently weighed in on W shares. Cowen raised their price objective on Wayfair from $120.00 to $130.00 and gave the company a “positive” rating in a research note on Friday, December 7th. Piper Jaffray Companies set a $87.00 target price on Wayfair and gave the company a “buy” rating in a report on Thursday, December 20th. Robert W. Baird lowered their target price on Wayfair from $118.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. JPMorgan Chase & Co. lowered their target price on Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Finally, Citigroup began coverage on Wayfair in a report on Friday, December 7th. They issued a “neutral” rating and a $117.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $124.85.
In other news, insider Edmond Macri sold 500 shares of Wayfair stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $101.94, for a total transaction of $50,970.00. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately $50,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steve Oblak sold 230 shares of Wayfair stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $110.66, for a total value of $25,451.80. Following the sale, the insider now directly owns 116,036 shares in the company, valued at approximately $12,840,543.76. The disclosure for this sale can be found here. Insiders have sold a total of 140,893 shares of company stock worth $15,008,501 in the last three months. 37.75% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Wayfair by 2.0% during the 3rd quarter. FMR LLC now owns 8,949,120 shares of the company’s stock worth $1,321,516,000 after purchasing an additional 176,243 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Wayfair by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,761,964 shares of the company’s stock worth $703,199,000 after purchasing an additional 332,832 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Wayfair by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 4,761,964 shares of the company’s stock worth $703,199,000 after purchasing an additional 332,832 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Wayfair by 32.6% during the 4th quarter. Baillie Gifford & Co. now owns 3,773,309 shares of the company’s stock worth $339,899,000 after purchasing an additional 927,813 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Wayfair by 26.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,536,137 shares of the company’s stock worth $226,841,000 after purchasing an additional 320,542 shares in the last quarter. 74.10% of the stock is currently owned by institutional investors.
The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of -53.55 and a beta of 1.89.
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Wayfair Company Profile (NYSE:W)
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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