Wayfair (NYSE:W) Shares Up 16.1% – Should You Buy?

Wayfair Inc. (NYSE:W)’s share price rose 16.1% on Wednesday . The company traded as high as $26.31 and last traded at $28.04. Approximately 4,810,829 shares traded hands during trading, a decline of 3% from the average daily volume of 4,947,846 shares. The stock had previously closed at $24.14.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America cut their price objective on Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Stifel Nicolaus reduced their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Canaccord Genuity Group decreased their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada dropped their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Finally, BMO Capital Markets upped their target price on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Hold” and a consensus price target of $54.16.

Wayfair Price Performance

The stock has a market cap of $3.42 billion, a P/E ratio of -6.69 and a beta of 3.72. The stock’s fifty day simple moving average is $36.89 and its 200-day simple moving average is $43.64.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling

In related news, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the transaction, the insider now owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,532 shares of company stock valued at $5,090,232 in the last quarter. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after buying an additional 327,603 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Wayfair in the 4th quarter valued at about $6,799,000. Nisa Investment Advisors LLC boosted its position in shares of Wayfair by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after purchasing an additional 2,250 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Wayfair in the 4th quarter worth approximately $229,000. Finally, SG Americas Securities LLC raised its holdings in shares of Wayfair by 277.4% in the 4th quarter. SG Americas Securities LLC now owns 12,591 shares of the company’s stock worth $558,000 after purchasing an additional 9,255 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

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.