Needham analyst Rick Patel assigned a Hold rating to Wayfair (W) today. The company’s shares closed last Wednesday at $301.40, close to its 52-week high of $304.41.
According to TipRanks.com, Patel is a 1-star analyst with an average return of -0.8% and a 36.7% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, G-III Apparel Group, and Lululemon Athletica.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wayfair with a $250.12 average price target, representing a -11.9% downside. In a report released today, Barclays also upgraded the stock to Hold with a $321.00 price target.
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The company has a one-year high of $304.41 and a one-year low of $21.70. Currently, Wayfair has an average volume of 2.45M.
Based on the recent corporate insider activity of 110 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.
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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. The U.S. segment consists of amounts earned through product sales through the Company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through products sales in international sites. The company was founded by Steven K. Conine and Niraj S. Shah in May 2002 and is headquartered in Boston, MA.
