Shares of Wayfire Inc. (NYSE:W – Get Rating ) rose 7% on Friday after Cowen raised their price target to $60.00 from $38.00. The stock traded as high as $60.45 and last traded at $60.11. 1,953,097 shares traded hands during mid-day trading, down 73 percent from the average session volume of 7344,372 shares. The stock previously closed at $56.20.
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Several other analysts have also recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Wayfire from $62.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, November 7th. Goldman Sachs Group upped their price target on shares of Wayfair from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, November 4th. Bank of America raised shares of Wayfair from an “underperform” rating to a “buy” rating and raised their price target for the company from $30.00 to $65.00 in a research report on Monday, January 23rd. Wedbush raised shares of WiFi from a “neutral” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Monday, January 23rd. Finally, Credit Suisse Group reduced their price target on shares of Wayfair from $150.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, October 31st. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.50, according to data obtained by MarketBeat.
Insider buying and selling on Wayfair
In other Wayfair news, insider Steve Oblak sold 2,923 shares of Wayfair stock in a transaction dated Wednesday, November 2nd. The shares traded at an average price of $37.33, for a total value of $109,115.59. Following the transaction, the insider directly owns 168,715 shares in the company, valued at $6,298,130.95. The transaction was disclosed in a filing with the SEC on the SEC’s website. In other Wayfair news, insider Steve Oblak sold 2,923 shares of Wayfair stock in a transaction dated Wednesday, November 2nd. The shares traded at an average price of $37.33, for a total value of $109,115.59. Following the transaction, the insider directly owns 168,715 shares in the company, valued at $6,298,130.95. The transaction was disclosed in a filing with the SEC on the SEC’s website. Also, CTO Fiona Tan sold 3,283 shares of Wayfair stock in a transaction dated Friday, December 2nd. The shares traded at an average price of $40.11, for a total transaction of $131,681.13. Following the completion of the transaction, the chief technology officer now owns 34,645 shares in the company, valued at $1,389,610.95. A description of this sale can be found here. Over the last three months, insiders have sold 42,379 shares of company stock worth $1,540,618. 26.81% of the shares are owned by company insiders.
Institutional flows and exits
Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its holdings in shares of Wayfair by 102.6% in the first quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock worth $86,000 after acquiring an additional 395 shares during the period. Covestor Ltd increased its holdings in shares of Wayfair by 2,934.3% in the first quarter. Covester Ltd. now owns 1,062 shares of the company’s stock worth $118,000 after acquiring an additional 1,027 shares during the period. CWM LLC increased its holdings in shares of Wayfair by 186.3% during the second quarter. CWM LLC now owns 1,088 shares of the company’s stock worth $47,000 after acquiring an additional 708 shares during the period. Yarborough Capital LLC acquired a new position in shares of Wayfire during the fourth quarter worth about $43,000. Finally, Cribstone Capital Management LLC acquired a new position in shares of Wayfair during the second quarter worth about $65,000. 90.61% of the stock is currently owned by institutional investors and hedge funds.
Wayfair price performance
The company’s 50-day Simple Moving Average is $38.95, and its two-hundred-day Moving Average is $43.46. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -5.69 and a beta of 2.85.
Wayfair (NYSE:W – Get Rating ) last released its earnings results on Thursday, November 3rd. The company reported ($3.27) earnings per share for the quarter, topping the consensus estimate of ($3.32) by $0.05. The company had revenue of $2.84 billion for the quarter, compared to analysts’ estimates of $2.81 billion. On average, analysts expect that for the current fiscal year Wayfair Inc. They expect it to post -12.48 EPS.
Wayfair Company Profile
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Wayfair, Inc. engages in online furniture stores. It operates through US and international divisions. The U.S. segment includes revenue from product sales through the company’s five sites in the U.S. and websites operated by third parties in the U.S. The international segment includes revenue from product sales through international websites.
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This quick news alert was created using Narrative Science technology and MarketBeat financial data to provide readers with fast and accurate reporting. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected].
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