Wayfair (W) Coverage Initiated by Analysts at Citigroup

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Citigroup assumed coverage on shares of Wayfair (NYSE:W) in a research note published on Friday, MarketBeat Ratings reports. The firm issued a neutral rating and a $117.00 price target on the stock.

Several other research firms have also commented on W. Loop Capital set a $155.00 price target on Wayfair and gave the stock a buy rating in a research report on Monday, September 10th. Canaccord Genuity restated a buy rating and set a $165.00 price target (up from $140.00) on shares of Wayfair in a research report on Friday, September 28th. MKM Partners raised their price target on Wayfair from $130.00 to $165.00 and gave the stock a buy rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. lowered their price target on Wayfair from $115.00 to $110.00 and set a neutral rating for the company in a research report on Friday, November 2nd. Finally, Robert W. Baird lowered their price target on Wayfair from $118.00 to $108.00 and set a neutral rating for the company in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $126.50.

Wayfair stock traded down $6.25 during mid-day trading on Friday, hitting $104.77. The company’s stock had a trading volume of 1,787,901 shares, compared to its average volume of 2,735,651. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of -37.42 and a beta of 1.81. Wayfair has a 1 year low of $60.53 and a 1 year high of $151.20.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, November 1st. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.67 billion. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.65) EPS. Equities research analysts predict that Wayfair will post -5.72 earnings per share for the current fiscal year.

In other news, insider Edmond Macri sold 600 shares of the stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $129.84, for a total value of $77,904.00. Following the sale, the insider now directly owns 500 shares in the company, valued at $64,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve Oblak sold 227 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $149.29, for a total value of $33,888.83. Following the completion of the sale, the insider now owns 113,908 shares in the company, valued at $17,005,325.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 380,099 shares of company stock worth $50,817,089. Insiders own 37.75% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. JS Capital Management LLC acquired a new stake in Wayfair in the third quarter valued at $103,000. Cornerstone Wealth Management LLC acquired a new stake in Wayfair in the third quarter valued at $150,000. Wedbush Securities Inc. acquired a new stake in Wayfair in the third quarter valued at $207,000. Engineers Gate Manager LP acquired a new stake in Wayfair in the second quarter valued at $208,000. Finally, Peregrine Asset Advisers Inc. acquired a new stake in Wayfair in the second quarter valued at $214,000. Institutional investors own 70.94% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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