Wayfair (W) Trading 14.5% Higher

Shares of Wayfair Inc (NYSE:W) traded up 14.5% on Wednesday . The stock traded as high as $106.91 and last traded at $104.89. 7,202,384 shares were traded during trading, an increase of 298% from the average session volume of 1,811,693 shares. The stock had previously closed at $91.60.

Several analysts have recently weighed in on the company. Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $130.00 to $160.00 in a research report on Thursday, September 13th. MKM Partners lifted their target price on Wayfair from $130.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Canaccord Genuity reiterated a “buy” rating and set a $165.00 target price (up from $140.00) on shares of Wayfair in a research report on Friday, September 28th. Wells Fargo & Co assumed coverage on Wayfair in a research report on Wednesday, September 12th. They set a “market perform” rating and a $150.00 target price for the company. Finally, Loop Capital set a $155.00 target price on Wayfair and gave the stock a “buy” rating in a research report on Monday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $126.06.

The firm has a market cap of $9.48 billion, a price-to-earnings ratio of -37.93 and a beta of 1.84.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, November 1st. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Wayfair’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) EPS. As a group, equities analysts predict that Wayfair Inc will post -5.64 earnings per share for the current fiscal year.

In other Wayfair news, COO James Savarese sold 99,570 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $150.18, for a total value of $14,953,422.60. Following the completion of the transaction, the chief operating officer now directly owns 458,056 shares in the company, valued at $68,790,850.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edmond Macri sold 600 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $80.94, for a total transaction of $48,564.00. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at $40,470. The disclosure for this sale can be found here. Insiders sold 396,019 shares of company stock valued at $53,175,993 over the last quarter. 37.75% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. JS Capital Management LLC purchased a new stake in shares of Wayfair during the third quarter worth about $103,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Wayfair during the third quarter worth about $150,000. Wedbush Securities Inc. purchased a new stake in shares of Wayfair during the third quarter worth about $207,000. Engineers Gate Manager LP purchased a new stake in shares of Wayfair during the second quarter worth about $208,000. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Wayfair during the second quarter worth about $214,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

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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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