Wall Street analysts’ outlook for Wayfair Inc (W)

Wayfair Inc (NYSE: W) stock jumped 2.28% on Friday to $47.16 against a previous-day closing price of $46.11. With 2.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.62 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $47.58 whereas the lowest price it dropped to was $45.93. The 52-week range on W shows that it touched its highest point at $90.71 and its lowest point at $29.51 during that stretch. It currently has a 1-year price target of $66.10. Beta for the stock currently stands at 3.15.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of W was up-trending over the past week, with a rise of 9.12%, but this was up by 7.77% over a month. Three-month performance dropped to -32.63% while six-month performance rose 33.60%. The stock gained 25.49% in the past year, while it has gained 43.39% so far this year. A look at the trailing 12-month EPS for W yields -8.29 with Next year EPS estimates of 0.08. For the next quarter, that number is -0.16. This implies an EPS growth rate of 84.84% for this year and 107.08% for next year.

Float and Shares Shorts:

At present, 117.95 million W shares are outstanding with a float of 83.12 million shares on hand for trading. On Oct 30, 2023, short shares totaled 22.39 million, which was 18.99% higher than short shares on Sep 28, 2023. In addition to Mr. Niraj S. Shah as the firm’s Co-Founder, Co-Chairman, President & CEO, Mr. Steven K. Conine serves as its Co-Founder & Co-Chairman.

Institutional Ownership:

Other institutions hold 61.21% of W, in contrast to 53.08% held by mutual funds. Shares owned by individuals account for 18.32%. As the largest shareholder in W with 14.80% of the stake, Fidelity Management & Research Co holds 13,361,812 shares worth 13,361,812. A second-largest stockholder of W, Capital Research & Management Co, holds 11,079,903 shares, controlling over 12.28% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in W, holding 7,710,660 shares or 8.54% stake. With a 7.69% stake in W, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 6,938,964 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 4.04% of W stock, is the second-largest Mutual Fund holder. It holds 3,648,801 shares valued at 155.48 million. Fidelity Growth Company Fund holds 3.88% of the stake in W, owning 3,500,953 shares worth 149.18 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for W since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With W analysts setting a high price target of $100.00 and a low target of $42.00, the average target price over the next 12 months is $66.10. Based on these targets, W could surge 112.04% to reach the target high and fall by -10.94% to reach the target low. Reaching the average price target will result in a growth of 40.16% from current levels.

Summary of Insider Activity:

Insiders traded W stock several times over the past three months with 16 Buys and 27 Sells. In these transactions, 84,368 shares were bought while 46,474 shares were sold. The number of buy transactions has increased to 79 while that of sell transactions has risen to 96 over the past year. The total number of shares bought during that period was 513,482 while 255,352 shares were sold.