Wayfair (NYSE:W) Shares Gap Up – Still a Buy?

Wayfair Inc. (NYSE:W) gapped up prior to trading on Tuesday . The stock had previously closed at $44.99, but opened at $47.14. Wayfair shares last traded at $48.39, with a volume of 676,048 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on W shares. Stifel Nicolaus dropped their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Wayfair in a research note on Friday, November 1st. Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. BMO Capital Markets lowered their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Trading Down 1.9 %

The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -10.62 and a beta of 3.43. The stock has a 50-day moving average of $46.00 and a 200-day moving average of $47.23.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm posted ($1.38) EPS. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Wayfair Inc. will post -2.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Blotner sold 5,669 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now directly owns 57,899 shares in the company, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,150 shares of company stock worth $6,250,114. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in W. Capital Performance Advisors LLP bought a new position in Wayfair during the third quarter valued at about $29,000. GAMMA Investing LLC lifted its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wayfair during the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $50,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Wayfair in the 3rd quarter worth approximately $67,000. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

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.