Wayfair (NYSE:W) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Wayfair (NYSE:WGet Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $105.00 to $108.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.20% from the company’s current price.

A number of other brokerages have also commented on W. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. TD Cowen reduced their price objective on Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Weiss Ratings upgraded Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Wayfair in a report on Wednesday, May 20th. Finally, Robert W. Baird set a $76.00 target price on Wayfair in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.46.

Check Out Our Latest Research Report on W

Wayfair Stock Performance

W traded down $0.78 during trading hours on Tuesday, reaching $93.75. The company’s stock had a trading volume of 660,455 shares, compared to its average volume of 3,710,260. The firm has a market cap of $12.37 billion, a PE ratio of -40.28, a price-to-earnings-growth ratio of 4.66 and a beta of 2.96. Wayfair has a 52 week low of $55.60 and a 52 week high of $119.98. The company’s 50-day moving average is $81.96 and its 200-day moving average is $82.82.

Wayfair (NYSE:WGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company posted $0.10 earnings per share. Wayfair’s revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Wayfair will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the transaction, the insider owned 117,344 shares in the company, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of the company. Optas LLC increased its holdings in Wayfair by 2.1% during the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock valued at $508,000 after purchasing an additional 106 shares during the period. Larson Financial Group LLC lifted its holdings in Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after buying an additional 120 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Wayfair by 2.3% during the 4th quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock worth $544,000 after acquiring an additional 124 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Wayfair by 4.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company’s stock valued at $345,000 after purchasing an additional 155 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Wayfair by 12.8% during the fourth quarter. Parallel Advisors LLC now owns 1,400 shares of the company’s stock valued at $141,000 after purchasing an additional 159 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Wayfair (NYSE:W)

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