Wayfair (NYSE:W) Shares Up 9.1%

Wayfair Inc (NYSE:W) shot up 9.1% on Thursday . The stock traded as high as $324.21 and last traded at $317.38. 3,989,122 shares were traded during trading, an increase of 24% from the average session volume of 3,213,264 shares. The stock had previously closed at $291.01.

Several research firms have recently weighed in on W. Barclays raised Wayfair from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $153.00 to $321.00 in a report on Thursday, August 6th. Piper Sandler upped their price objective on Wayfair from $275.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Canaccord Genuity upped their price objective on Wayfair from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Oppenheimer upped their price objective on Wayfair from $200.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Investment Research lowered Wayfair from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a research note on Monday, July 27th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. Wayfair currently has an average rating of “Hold” and an average price target of $242.88.

The firm’s fifty day simple moving average is $296.08 and its 200 day simple moving average is $193.88. The firm has a market cap of $30.28 billion, a P/E ratio of -45.47, a P/E/G ratio of 32.20 and a beta of 3.48.

Wayfair (NYSE:W) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $3.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $2.58. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business posted ($1.35) EPS. The firm’s revenue was up 83.7% on a year-over-year basis. Equities analysts predict that Wayfair Inc will post 0.34 EPS for the current year.

In related news, CFO Michael D. Fleisher sold 10,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $223.00, for a total value of $2,230,000.00. Following the completion of the transaction, the chief financial officer now owns 98,924 shares of the company’s stock, valued at approximately $22,060,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James R. Miller sold 500 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $300.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief technology officer now directly owns 22,808 shares of the company’s stock, valued at approximately $6,842,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,946 shares of company stock valued at $73,919,635. 30.86% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Modus Advisors LLC bought a new stake in Wayfair in the second quarter worth about $27,000. CFM Wealth Partners LLC bought a new stake in Wayfair in the second quarter worth about $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in Wayfair by 133.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $34,000 after purchasing an additional 363 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Wayfair during the first quarter worth approximately $46,000. Finally, Savior LLC purchased a new position in shares of Wayfair during the second quarter worth approximately $46,000. 81.27% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile (NYSE:W)

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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