Analyst Explains Why They Upgraded Their Rating on Wayfair (W)
In a report released today, Scott Devitt from Stifel Nicolaus upgraded Wayfair (W) to Hold, with a price target of $280.00. The company’s shares closed last Thursday at $286.13.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 34.3% and a 69.9% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.
Wayfair has an analyst consensus of Moderate Buy, with a price target consensus of $347.72, a 20.7% upside from current levels. In a report issued on May 3, Wells Fargo also maintained a Hold rating on the stock with a $320.00 price target.
See today’s analyst top recommended stocks >>
Wayfair’s market cap is currently $28.1B and has a P/E ratio of 192.00. The company has a Price to Book ratio of -23.23.
Based on the recent corporate insider activity of 133 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of W in relation to earlier this year.
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. is an e-commerce company which engages in selling furniture and home decor goods worldwide. The company sells its products through wayfair.com and four other branded websites, namely – AllModern, Joss & Main, Birch Lane and Perigold.