Wayfair Inc (W) Received its Third Buy in a Row

After Piper Jaffray and MKM Partners gave Wayfair Inc (NYSE: W) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Brian Nagel maintained a Buy rating on Wayfair Inc today. The company’s shares closed on Friday at $122.67.

According to TipRanks.com, Nagel is a 5-star analyst with an average return of 7.3% and a 61.8% success rate. Nagel covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Lumber Liquidators.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wayfair Inc with a $137.54 average price target, which is a 12.1% upside from current levels. In a report issued on October 8, Loop Capital Markets also maintained a Buy rating on the stock with a $160 price target.

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Based on Wayfair Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $101 million. In comparison, last year the company had a GAAP net loss of $76.43 million.

Based on the recent corporate insider activity of 319 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Romero Rodrigues, a Director at W sold 126 shares for a total of $14,944.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Wayfair, Inc. engages in an online home furnishing store. It offers a selection of home furnishings and decor across all styles and price points. It operates through the U.S. and International segments.