Wayfair (NYSE:W) Shares Gap Up to $50.53

Shares of Wayfair Inc. (NYSE:W) gapped up prior to trading on Thursday . The stock had previously closed at $50.53, but opened at $60.00. Wayfair shares last traded at $57.78, with a volume of 3,970,150 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Wayfair in a research report on Monday, April 22nd. TD Cowen lifted their price objective on Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on shares of Wayfair from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Finally, Loop Capital increased their target price on Wayfair from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.21.

Wayfair Trading Up 14.5 %

The company has a market cap of $6.96 billion, a PE ratio of -8.75 and a beta of 3.32. The company has a fifty day simple moving average of $59.61 and a two-hundred day simple moving average of $55.02.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, research analysts anticipate that Wayfair Inc. will post -3.37 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the transaction, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jon Blotner sold 3,492 shares of Wayfair stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the sale, the insider now owns 32,118 shares of the company’s stock, valued at $1,616,820.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 5,315 shares of Wayfair stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares in the company, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. Insiders sold a total of 89,808 shares of company stock valued at $5,445,222 over the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new stake in Wayfair during the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Wayfair during the fourth quarter worth $29,000. GAMMA Investing LLC purchased a new stake in Wayfair during the fourth quarter worth $31,000. BluePath Capital Management LLC purchased a new stake in Wayfair during the third quarter worth $34,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Wayfair during the third quarter worth $34,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

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.