Wayfair (NYSE:W) Hits New 12-Month High – Time to Buy?

Wayfair Inc. (NYSE:W) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $118.37 and last traded at $116.9080, with a volume of 270175 shares changing hands. The stock had previously closed at $114.84.

Analyst Upgrades and Downgrades

W has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a research report on Wednesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Barclays boosted their price target on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Finally, Evercore ISI lifted their price objective on Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.29.

Wayfair Stock Performance

The stock has a market cap of $15.28 billion, a PE ratio of -45.76 and a beta of 3.31. The firm has a 50-day moving average price of $103.20 and a 200-day moving average price of $85.68.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, CTO Fiona Tan sold 6,347 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $100.54, for a total transaction of $638,127.38. Following the completion of the sale, the chief technology officer owned 198,860 shares of the company’s stock, valued at $19,993,384.40. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $102.33, for a total value of $3,069,900.00. Following the completion of the transaction, the insider directly owned 439,073 shares in the company, valued at $44,930,340.09. This trade represents a 6.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,127,453 shares of company stock valued at $108,127,287. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of W. Cornerstone Planning Group LLC increased its holdings in Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 282 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after purchasing an additional 120 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.