Wayfair (NYSE:W) Now Covered by William Blair

William Blair initiated coverage on shares of Wayfair (NYSE:W – Get Rating) in a report issued on Tuesday, The Fly reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for Wayfair’s Q2 2022 earnings at ($3.19) EPS, Q3 2022 earnings at ($1.99) EPS, Q4 2022 earnings at ($2.15) EPS, FY2022 earnings at ($10.36) EPS and FY2023 earnings at ($7.87) EPS.

Several other analysts also recently issued reports on W. Loop Capital reduced their price target on Wayfair from $90.00 to $70.00 in a research note on Friday, May 6th. Evercore ISI decreased their target price on Wayfair to $65.00 in a research report on Thursday, June 9th. StockNews.com upgraded Wayfair to a sell rating in a research report on Tuesday, May 17th. Truist Financial reduced their price target on Wayfair from $130.00 to $120.00 and set a buy rating on the stock in a report on Monday, August 1st. Finally, Cowen dropped their price target on Wayfair from $140.00 to $84.00 in a research report on Monday, August 1st. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $96.58.

Wayfair Price Performance

Shares of NYSE:W opened at $62.31 on Tuesday. The firm has a fifty day moving average price of $52.87 and a 200 day moving average price of $90.24. The stock has a market cap of $6.56 billion, a P/E ratio of -13.63 and a beta of 2.91. Wayfair has a 1-year low of $43.31 and a 1-year high of $317.45.

Wayfair (NYSE:W – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.05). The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share. Sell-side analysts expect that Wayfair will post -11.69 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Steve Oblak sold 2,037 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $43.90, for a total transaction of $89,424.30. Following the completion of the sale, the insider now directly owns 157,052 shares in the company, valued at approximately $6,894,582.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Wayfair news, insider Steve Oblak sold 2,037 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $43.90, for a total value of $89,424.30. Following the sale, the insider now owns 157,052 shares in the company, valued at approximately $6,894,582.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael W. Choe bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average price of $49.86 per share, for a total transaction of $1,745,100.00. Following the transaction, the director now owns 150,160 shares in the company, valued at $7,486,977.60. The disclosure for this purchase can be found here. In the last three months, insiders sold 20,251 shares of company stock worth $994,669. 27.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently made changes to their positions in W. Confluence Wealth Services Inc. purchased a new position in Wayfair during the 4th quarter valued at about $27,000. Steward Partners Investment Advisory LLC increased its stake in shares of Wayfair by 227.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 252 shares of the company’s stock worth $48,000 after purchasing an additional 175 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in Wayfair in the 4th quarter worth $51,000. CWM LLC bought a new position in Wayfair in the 4th quarter worth $55,000. Finally, Elequin Capital LP bought a new position in shares of Wayfair in the 1st quarter valued at about $45,000. 85.89% of the stock is owned by institutional investors.

About Wayfair

(Get Rating)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.